American carmaker Ford, has been trying hard over the past 20 years or so to sell its cars in India. For the most part, the company has done well for itself, with the current EcoSport making some good name for itself. But the carmaker has never had it easy in India, with majority of its rivals such as Hyundai and Maruti Suzuki keeping the American giant at bay. However, Ford is now gearing up for some tough competition and this time, they are aiming for the jugular of its rivals.
One of the best selling Fords, ever. – The EcoSport.
Mark Fields is Ford Motor’s Chief Executive and he has set some high aims for the carmaker in India. Fields would like the subcontinent to become one of the main hub for exports of the company’s small cars and small engines. The 1.0-litre turbocharged EcoBoost motor is a fine example of the carmaker’s small capacity motor that is to be produced in vast quantities in India. In total, Fields has set the target of 10 million cars sales globally every year, by the end of this decade. That is a tall order, but according to the Chief Executive, one that isn’t an improbability.
The Fiesta looks good, but its rivals do even better in sales.
According to Fields, the company managed an impressive sales of 6.6 million units in 2014. The Chief Executive predicts over half of its sales growth, will emerge from markets like China and India. Ford India shifted 77,000 cars to the export markets in 2014 and also remained a strong player in the domestic market. Ford India sold a total of 154,121 units last year, compared to 119,715 units in 2013. These numbers include the domestic and export sales, resulting in a 29% increase in sales, YOY.
The Figo Aspire is the latest entrant and Ford has big hopes from the sub-compact saloon.
Ford is intent on export growth, however, not at the cost of weak domestic sales. To fortify its product portfolio, the company has 3 new cars lined up for the Indian market. The first of which, the Ford Figo Aspire, was recently unveiled at the carmaker’s new Sanand plant in Gujarat. Ford has invested a massive $2 billion so far, out of which half, has gone into the making of its new plant in Gujarat. According to Fields, the new Sanand plant has doubled the company’s cars and engines production capacity. Ford India can now churn out 440,000 vehicles and 610,000 engines, per year. Fields is confident in the future growth of the company and believes the new investments will prove fruitful in times to come.
Source – ET