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Ford India To Launch 8 New Models
During the last 10 years, Ford has invested 1billion dollar in India and gearing up to overtake its competitors who continue to launch new models to attract one of the Asia's largest growing car market of our country.
According to Joe Hinrichs, the President of Ford Asia Pacific and Africa, Ford has big plans for India and for the Asia region. He added that by 2015, Ford will introduce eight new vehicles to India and this ambitious plan would have a tremendous impact on manufacturing, dealers, suppliers and employees in India. Ford may likely pour in more money, but so far, the company has not disclosed the amount.
Ford will concentrate on small cars in India which constitutes for 70 percent of passenger car market. Ford India is viewed as a key pillar of Ford Motors' global manufacturing presence. Ford is also concentrating on Thailand market as it plans to invest 350 million dollars with Japanese partner Mazda to sell pick-up trucks in Thailand which reaffirms the strategic relationship between Ford and Mazda.
Indian lucrative auto market is attracting international car makers. The competition is stiffening day by day. For instance, new players Volkswagen and Nissan have huge plans for India. Ford and GM are picking up in sales. These American firms have been hoping to offset sluggish sales at home by steering towards emerging markets, China and India, where there are crores of people still waiting to buy their first car. Indian vehicles sales have witnessed a stunning growth of 17 percent in the past 5 years, and it will continue to grow further in the coming years.
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