Ford India Posted Growth of 28.47 per cent

Ford India is riding high on the success chariot as in the month of December, the company witnessed a growth of 28.47 per cent. The Blue Oval company retailed 14,401 units in December 2014 compared to 11,209 units in December 2013. While the company’s domestic sales declined by 36.05 per cent as it sold 3,754 units in Dec 2014 against the 5,871 units in the same month of last year.

About the exports, the company just doubled its shipment to 10,647 units compared to 5,338 units in December 2013. While for the entire 2014, the manufacturer posted a positive growth of 29 percent as the combined domestic sale and exports stood at 1,54,121 units.

Ford India Marketing, Sales and Service Executive Director Anurag Mehrotra said, "2014 has been a challenging year for the Indian automotive industry. Factors like high interest rates and inflation impacted the much needed turnaround in sales and consumer sentiment. The government's recent decision to discontinue excise duty concessions will only add to the woes of the automotive industry with customers postponing purchases.”

Recently, company’s latest venture Ford Credit India, a non-banking financial company, received license from the Reserve Bank India.

Mr Mehrotra also added "From the launch of our new manufacturing plant in Sanand, Gujarat to a robust vehicle introduction over the next 18 to 20 months, we will bring the best of Ford to our Indian customers."