Ford jumps into the small car race
“Our new model will be a worthy competitor to other cars in the segment and we will begin production with at least 90 percent local content to ensure that it is priced competitively,” said Arvind Mathew, president and managing director of Ford India.
Ford has invested US$ 500 million for its new programme and a substantial chunk of that will go into building an engine plant with a capacity of 250,000 engines per annum.
Car production capacity is also expected to double from 100,000 to 200,000 by 2010. Ford has finally realised that to be a serious player in India it needs a car that is attractively priced to generate big volumes.
RELATED ARTICLES
New Hyundai Creta sales race to 100,000 units in just six months
Surging demand for India’s best-selling midsize SUV, particularly after the new Creta was launched on January 16, sees i...
India ranked 12th in Renault’s Top 15 markets, plots new models to regain growth
India’s position in the Renault Group’s Top 15 global markets in first-half 2024 has risen by one rank from 13th in 2023...
TVS Apache regains sales lead over TVS Raider after four quarters
With 120,588 units sold in April-June 2024, the 14-variant Apache series spread across the 160-312cc spectrum regains th...