Figo To Enter New Overseas Markets

By By: Vicky.in

Published: Wednesday, November 3, 2010, 14:09 [IST]

The subsidiary company of the US based Ford Motor Corporation in India is on the verge of exporting its Figo to 48 new overseas markets. Already the car is being exported to South Africa and Nepal markets. The countries marked for the initial export from next year are South America, Mexico, the Emirates and North Africa, said the company"sMD. The feedback from the South African market has been encouraging since its launch and there are 2000 additional orders from these markets. With these, the average export volume to South Africa will be around 7000 units a year.

Incidentally Ford India, has secured a slot among the top 10 companies in the South African car market. To meet the export demand the company"s Chennai facility will be upgraded with more units as there has been plans to launch 8 new models during the next five years.

The Chennai plant delivers Ford Figo, Endeavor and Ikon ranges and the sale volume of Ford India in October 2010 was 9,026 units, making a two fold jump than the one received in September 2010. Interestingly this stands to be the ever best sale volume for Ford India.

He was not elaborate on the question about the intended raising of short-term lending and borrowing by25 percent, initiated by the Reserve Bank of India. The company"s Executive Director said the flagship model Ikon is receiving tremendous offers. The car has been in the Indian car market of Tier II and Tier III cities for more than 20 years hence there is no talk of phasing out this model, he added.

Article Published On: Wednesday, November 3, 2010, 12:54 [IST]

Read more on: #ford #indian car market #vehicles

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