Ford to launch eight new cars in India within the next five years
INDIA // India looks set to become a major export hub for Ford's Figo car as the manufacturing giant prepares to launch eight new cars from the continent. The company plans to export the Figo from India to 50 new markets, including Mexico, North Africa and the Middle East, starting next year, company executives said. Ford's push into the India market is part of its strategy to further its presence in emerging markets, such as China and Brazil, in order to protect itself from the slower growth in the key markets of the US and Europe. Joe Hinrichs, the president of Ford Asia Pacific and Africa said: "India is a key market for Ford and we have big plans for the country and this region. The company will introduce eight new vehicles in India from the global platform, in segments appropriate for this market." Ford will concentrate on small cars in India, which constitutes 70 per cent of passenger car market, according to oneindia.in.
Published: September 4, 2010 04:00 AM