US car maker, Ford Motor, has decided to launch a new car every 12 to 18 months in India as part of its strategy to spruce up marketshare. This was indicated by Michael Boneham, president and MD of Ford India here on Thursday.
Talking to newsmen at the inauguration of Ford’s new dealership, Victoria Ford, Mr Boneham said: "We now have a marketshare of nearly 2% and we want to grow it significantly in coming years. Launching of new cars from the Ford stable, will play a crucial role in growing our market share in India." However he refused to divulge what sort of marketshare the company aims to achieve in the long run.
For calendar year 2009, Ford India aims to achieve a sales of 30,000 cars compared to 29,000 cars sold in calendar 2008. "In September ‘09, we have been able to sell 3,500 cars which is a 50% increase year-on-year basis," said Nigel Wark, executive director (marketing, sales and services).
The company exports its cars produced in India to South Africa. Last year, the company had exported nearly 4,000 cars. "This year, we expect to maintain the same export level," said Mr Boneham. Ford’s foray into the Indian compact car market with Figo is expected by the first quarter of calender 2010 and the vehicle would be exported to Asia Pacific and Africa along with sales in India.
Ford India is investing $500 million in expanding production at its Chennai plant from 1 lakh to 2 lakh vehicles, apart from producing 2.5 lakh engines, both in petrol and diesel. "The engine plant will be the export hub for Asia Pacific and Africa," Mr Boneham said. He, however, declined to state what percentage of production would be earmarked for the overseas markets.
Relaunching its SUV Endeavour with some added facilities, Boneham said the new Figo, on which the company is depending to get into the lucrative A segment, would be available in both petrol and diesel variants. "We are coming up with a 1.2 litre petrol engine while the diesel variant would be a sub 1.5 litre one," he said. "Pricing of the car will be extremely competitive," Mr Boneham said assuring that the car would be loaded with goodies.
Talking to newsmen at the inauguration of Ford’s new dealership, Victoria Ford, Mr Boneham said: "We now have a marketshare of nearly 2% and we want to grow it significantly in coming years. Launching of new cars from the Ford stable, will play a crucial role in growing our market share in India." However he refused to divulge what sort of marketshare the company aims to achieve in the long run.
For calendar year 2009, Ford India aims to achieve a sales of 30,000 cars compared to 29,000 cars sold in calendar 2008. "In September ‘09, we have been able to sell 3,500 cars which is a 50% increase year-on-year basis," said Nigel Wark, executive director (marketing, sales and services).
The company exports its cars produced in India to South Africa. Last year, the company had exported nearly 4,000 cars. "This year, we expect to maintain the same export level," said Mr Boneham. Ford’s foray into the Indian compact car market with Figo is expected by the first quarter of calender 2010 and the vehicle would be exported to Asia Pacific and Africa along with sales in India.
Ford India is investing $500 million in expanding production at its Chennai plant from 1 lakh to 2 lakh vehicles, apart from producing 2.5 lakh engines, both in petrol and diesel. "The engine plant will be the export hub for Asia Pacific and Africa," Mr Boneham said. He, however, declined to state what percentage of production would be earmarked for the overseas markets.
Relaunching its SUV Endeavour with some added facilities, Boneham said the new Figo, on which the company is depending to get into the lucrative A segment, would be available in both petrol and diesel variants. "We are coming up with a 1.2 litre petrol engine while the diesel variant would be a sub 1.5 litre one," he said. "Pricing of the car will be extremely competitive," Mr Boneham said assuring that the car would be loaded with goodies.
