Ford India had earlier planned to launch 8 new cars in India by the end of 2015. But due to the slowdown which hit the entire industry, these plans were put on hold. However, with an increase in sales by 9.5% to 84,469 units in fiscal year ended on 31st March 2014 and an increase in market share from 2.9% to 3.4%, Ford India has renewed its plans for new launches in the country.
This announcement from Ford Motor Co comes at a time when other automakers such as VW and GM are also reviewing their lineup and planning new car launches in India. Ford Motors plans to increase local content to keep prices low and expect sales to pick up after two consecutive years of lower than expected sales.
IHS Automotive has also signalled increased car sales in the country which is slated to grow by 5-10% this fiscal while India is poises to become the world’s third largest passenger car market by 2018 from its current sixth position.
Ford looks ahead to revival in customer sentiments over the upcoming festive season and are preparing for this increased demand with a third shift being planned for the company’s Chennai plant. This would significantly reduce waiting period for variants of EcoSport which has seen increased demand with domestic and exports reaching the 1 lakh unit milestone in August.
Apart from this, Ford is also working on their new plant in Sanand. The plant will officially start producing cars early next year, but prototype production will commence later this year. It is here that Ford will start the production of their new Figo sedan and hatchback, the first two of the four planned launches for India.