Ford Targets Emerging Markets with Frugal India Build, In a Bid to Compete ... - Venture Capital Post
(Credit: MoneyTimes) A visitor uses a mobile phone to photograph the new Ford Ranger pickup truck on display at the Ford Motor Co. 'Go Further' event at the Sandton Convention Center in Johannesburg, South Africa, on Tuesday, Aug. Ford reported net income of $1. 9 billion, or 47 cents a share, compared with $1. 3 billion, or 32 cents per share a year earlier. Ford's Asian rivals like Maruti Suzuki India Ltd and Hyundai Motor Co, has already been using this strategy. These auto companies outsold Ford in India , where small, affordable but powerful cars are in demand. The giant American auto company has been struggling with its sales in India with only 75,000 cars sold in the last fiscal year while Maruti sold some 1. 2 million cars. Ford launched its Figo Aspire, which is the first India specific, affordable small car. Ford's B-car Program Asia Pacific Head John Lonsdale, " we are being challenged to find engineering solutions at lower costs than we have traditionally been able to do. ". Global sales of B-cars are seen to rise radically by 2020 and Ford will use... Source: www.vcpost.com
