INDIA: Ford India pins profitability hopes on new models
Source: just-auto.com editorial team
The Hindu Business Line reports that Ford India has said that its profitability in India's crowded market will increase significantly beginning this year as its product portfolio grows.
Speaking to the media at the inauguration of Planet Ford, its second dealership in Pune City, Ford's Vice-President Marketing, Sales and Service, Mr Randy Shockley, said 2003-04 would witness the 'beginning of a spate of new launches from the company'.
While this year will see two more product launches, the company plans to launch at least three products next year, he said.
Ford also says that it is expanding its dealership network across the country in preparation for the new launches and expects the number to go up from the current level of 81 to 100 this year.
Mr Shockley said the company expects significant growth in sales to come in this year and said sales are expected to go up from 15,000 Ikons in 2002 to 20,000 in 2003. The company is currently the largest exporter of cars from India and exported 36,000 units of the Ikon in 2002 to South Africa, Mexico and Brazil.