Ford betting on India to be the auto hub for exports

Discussion in 'Indian Automotive Scene' started by Car Lover, Jan 28, 2013.

  1. Car Lover

    Car Lover New Member

    Oct 5, 2012
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    While auto exports from India are not in comparable numbers to that of the developed auto markets, it is still growing and most auto majors seem to believe that it could provide the impetus for exports in at least the Asia Pacific region.
    According to a report in The Business Line, the American automobile major Ford India is looking at the India as a major export hub. The report mentioned that Ford’s new President and Managing Director Joginder Singh as saying “By 2020, one out of every six cars sold in the region would be a Ford.”
    Ford, globally sold 5.3 million vehicles in 2010, expects to increase the number to 8 million by 2015. The Asia Pacific region is expected to account for 70 per cent of this market. By mid-decade, according to Singh, Ford India will have seven new factories working in China, Thailand and at Sanand, near Ahmedabad, where it is investing Rs 5,300 crore at the car and engine manufacturing facilities. The company’s manufacturing capacity at these two plants will increase from the existing three million units to five million by mid-decade and nine million by 2020.

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