Ford to launch 8 new cars, make India export hub

Renowned automaker Ford India expressed its plan of launching eight new cars in India by the mid-decade. The company will take this step in order to strike its strength in the rapidly growing auto market of India and to make it an export hub. On the occasion of the launch of Ford Endeavour three litre 4x2 automatic transmission model, Company Managing director Michael Boneham told that an important part of the eight products would be localised. While replying to of the questions, he said that the company has to be there in the small car segment. However, he did not disclose the details or confirm that whether it would mean being present in the sub Rs three-lakh segment.

Ford has invested nearly one billion dollars for expanding  its operations in India since the company’s inception. In January 2008, Ford spent 500 million dollars to grow the vehicle manufacturing capacity in Chennai  for producing 200,000 units per year and to set up a new state-of-the-art engine manufacturing plant with a capacity of 250,000 units. These were meant for both domestic and export markets. Looking at the overwhelming response from India, Boneham commented that Ford Figo has had a fantastic response with 30,000 cars sold in the first 25 weeks in India.

Boneham opined that Ford plans to be a serious player in India and would continue to invest in India to grow and mark its presence across segments. However, Boneham agreed that there are several issues over raw material and input costs in terms of logistics and transport. He added that the company would keenly observe other competitors in this regard. Boneham also told that Ford encompasses exporting to 50 new markets which include South Africa. The other markets Ford expects to cater from India include Mexico and northern Africa.

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