Ford finds immense prospects in India and China

American car maker Ford Motor Co has set its target for this decade and it is India and China, the two fastest growing car markets in the world. The company aims to boost its sales up by 50 percent in the next four years. Ford India currently has around four cars in India including the SUV Ford Endeavour, Ford Fiesta, small hatchback Ford Figo and sedan Ford Ikon. Ford India has recently unveiled its new Ford Fiesta in Bengaluru.

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As part of its expansion plans in Asia, Ford plans to take control over its debts and would bring it down by 15.7 percent by June. Besides, the company targets to cut the overall debt to about $10 million by 2015. The company incurred a debt of around $33.6 billion in 2009.

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The reason why the US car maker eye India and China is that the recession in America has lingering effects till now. Moreover, sources reveal that Ford quite similar to General Motors would focus on small cars in Asia as these are more popular in developing economies like India. In due course, Ford aims to increase the small car sales share to 55% by the end of the decade. Small cars currently represent about 48 percent of Ford's total vehicle sales. Experts believe that Ford’s target is ambitious but it’s achievable.

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It is said that Ford and General Motors came late in Asia but their entry opened new avenues for them at a time when they were reeling under crisis. GM reportedly is doing well in China and has a good market share. So as to achieve the target Ford India would increase the number of dealers to 340 in the next five years. Similarly Ford India would be introducing more small cars.However, Ford is short of sales as compared to GM, Toyota, Volkswagen and Hyundai in China. In India, Ford Figo and Ford Fiesta has brought sales to the American auto maker.

Read More on : Ford Figo in India