Sales of Ford vehicles in India have grown at an average annual rate of 17 percent over the past five years, and an estimated 10 million to 11 million people will migrate from two-wheeled forms of transport to small cars in the next few years. Ford India launched the Ford Figo subcompact in the first quarter of this year, selling more than 30,000 units in 25 weeks.
Michael Boneham, President and Managing Director, Ford India said, "Although the vast majority of vehicles we produce in India will help satisfy growing local demand, we also continue to pursue export opportunities." He went ahead to say that Ford India will export the locally-produced, Ford Figo to 50 new markets, including Mexico, North Africa and the Middle East starting next year.
Ford has been exporting the Figo to South Africa since May 2010. Ford India also exports the Ford Fiesta (branded as the “Ikonâ€) and diesel powertrains to South Africa, as well as the 1.4- and 1.6-litre petrol engines to Thailand. Ford sells the Endeavour, Ikon, Fiesta and Figo in India, all locally-produced.
The launch and export of both Figo and the engines are the result of a USD 500-million investment in India to expand manufacturing and set up an engine plant there. Ford encompasses markets on three continents, including Australia, China, India, Thailand and South Africa. Industry sales in the region will increase from 16 million units in 2009, to an estimated 35 million units by 2018. The region is expected to account for nearly 70 percent of Ford’s worldwide growth in the next decade.
