Ford India going in the right direction 0

Ford is looking to expand their business throughout India after a successful 2011. The American giants are clearly taking advantage of the one of the fastest growing car markets, with many expecting India to be the third largest by 2020.

India a major driving force – Alan Mullay

Alan Mullay, the Ford CEO and a highly knowledgeable man on the car industry believes that India will be one of the frontrunners when the market as a whole grows. He estimated that the global car market will grow by 5 % over the next two years. He said “The global automobile market is expected to grow by 5 percent in the next two years and most of it will come from the Asia Pacific region,”

Imports and exports doing well

The company beat expectations last year in the country by recording a growth figure of 15 %. 96,270 of Ford cars sold were done so locally, which was a great achievement. Ford India also have a great exportation segment in India, selling over 22,000 abroad, which is treble the amount as compared to 2010. The Indian made Ford Figo is now available in an amazing 32 different countries, with exports spreading to the emerging car markets of Burkina Faso and the Ivory Coast.

Michael Boneham – 2011 a great year

Michael Boneham, the Ford India President and Managing Director said that “It’s incredibly gratifying to see that our domestic sales have grown at such a steady pace, particularly given the challenging market environment. Overall, 2011 was a strong and positive year where we crossed many milestones,”

More local development

The new Ford EcoSport sports utility vehicle has been confirmed for production in India. This piece of news if quite significant as it represents the progress that the country has made. Indian engineering is clearly trustworthy and of very high quality if a vehicle of such great prestige is being made in the country.

Target

Ford are targeting around 8 million vehicle annual sales total by 2015 over the Asian and African countries by the year 2015.

Ford is also set to invest a tremendous $142 million (approximately £97 million) in their Chennai plant based in South India last year. At present the plant produces 200,000 cars a year, with figure set to expand after Ford’s cash injection. Ford has a brilliant opportunity in India and clearly making positive steps in the right direction.