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Slowdown hits Ford’s India plans
Slowdown hits Ford’s India plans.Faced with a slowdown in the past couple of years, auto major Ford has adjusted its product launch strategy in India with only three new products lined up to hit the market in the next 18 months, two short of the earlier plan.
American carmaker trims down number of new model launches in the country; Opens new plant in Gujarat
Sanand (Gujarat): Faced with a slowdown in the past couple of years, auto major Ford has adjusted its product launch strategy in India with only three new products lined up to hit the market in the next 18 months, two short of the earlier plan. The company had in 2010 said it would launch eight new products in the country by the middle of the decade. Since making the announcement it has so far launched only three.
"Obviously, you have to look at market trends. You have to look how the economy is doing. So we changed our plan. We adjusted our plan accordingly but at the same time we are going to offer three new products in the next 12-18 months," Ford Motor Co President and CEO Mark Fields told reporters. Speaking at the inauguration of the company's new plant here, he added: "We are going to continue to study the trends but clearly you have to look at what is going in the market place adjust your plans and make sure you are introducing product very focused product that will be successful in the market." Car sales in India had fallen for the second consecutive fiscal in 2013-14 with a drop of 4.65 per cent at 17,86,899 units as the auto industry continued to struggle with demand slump due to a sluggish economy. In the current fiscal, however, it has made some recovery.
