Arab Today, arab today ford bets big on india with 900m plant
Last Updated : GMT 23:05:00
Arab Today, arab today
Arab Today, arab today

Ford bets big on India with $900m plant

Arab Today, arab today

Arab Today, arab today Ford bets big on India with $900m plant

Mumbai - Arabstoday

Ford plans to build a $900 million (Dh3.3 billion) production plant in India, doubling its investment in the country, as the US carmaker seeks to catch up with rivals in the second fastest growing auto market in the world. Foreign car makers have been ramping up investment in a price-conscious Indian market, where small cars are the biggest sellers and domestic operators have long dominated the market. Ford\'s planned factory in Sanand, in the business-friendly western state of Gujarat, will be running by 2014 and employ 5,000 people, it said. Tata Motors makes the Nano, billed as the world\'s cheapest car, in the same city. \"Lots of foreign players are only now realising what the India auto market offers them. Since the industry has evolved in the last three to four years, they are falling short of capacity and are now ramping up,\" said Vineet Hetamasaria, an auto analyst at PINC Research in Mumbai. Article continues below With initial annual capacity of 240,000 vehicles, the plant will bring Ford\'s total capacity in India to 600,000. It will reduce the cost of getting vehicles to domestic market and give the company access to west coast ports for exports. Ford has another plant in the southern state of Tamil Nadu. Indian hub Foreign firms, most significantly South Korea\'s Hyundai Motor , the country\'s number two seller, have been making inroads into the local market and are increasingly using India as a hub to make and export small cars. Ford, which plans to raise the volume of its global sales by 50 per cent to about eight million vehicles a year by the middle of the decade, began exporting its compact Figo model from India in August. In the first six months of 2011, it sold more than 60,000 made-in-India units, including exports, more than 50 per cent higher than a year earlier. It\'s market share is around five per cent. Car sales in India jumped 30 per cent in the year to March to close to two million. Sales growth has been nearly flat in recent months as higher fuel prices, rising interest rates and prices have dented demand, a slowdown that is widely seen to be temporary in an economy growing at about eight per cent. Earlier this month, the Society of Indian Automobile Manufacturers (SIAM) forecast that car sales this fiscal year would rise between ten per cent and 12 per cent. It had previously forecast growth of 16-18 per cent. \"We don\'t see the fundamentals changing here in India and the rest of Asia, and that is that growth is going to be the order of the day,\" said Michael Boneham, Ford\'s India head. Ford set up operations in India in 1995 and plans to launch eight new products in the country by 2015. It aims eventually to export the Figo to 50 international markets. \"Clearly, we\'re going to go after the volume, which is in the small car market,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford bets big on india with 900m plant Arab Today, arab today ford bets big on india with 900m plant

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford bets big on india with 900m plant Arab Today, arab today ford bets big on india with 900m plant

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday