Slump in sales forces Ford to delay its new launch

Slump in sales forces Ford to delay its new launch

Ford has delayed two of its cars launch in India as the company faces a slowdown in the past two years. Earlier the company had planned to launch five cars in 18 months, but now it has only reduced to three products to launch.

In 2010, Ford India had announced to launch eight new products in the country, but since the announcement, the company has only managed to launch three products so far.

The company president CEO Mark Fields told reporters that the company was cautious because of changing trend. The adjustment of plan didn’t mean they stopped the launch but instead of five they were not contained with three. He further added.

The company has recently inaugurated a new plant Sanand, Gujarat. The company is optimistic to launch new products in the country but with a focused approach.

The downfall of car selling in India for the second consecutive fiscal in 2013-2014 with a sharp drop of 4.65 percent disturbed the plans of many companies. The sluggish economy of India has also affected on automobile industry. The company is hopeful that in the current fiscal, the economy will recover.

Despite of recent slump in sale, the company is very optimistic about the growth of the industry. In a recent speech, Ford MD David Duvensky told students in a university that the Indian automobile industry would be the third largest in the world by 2020.

Mark Field said that the company is set out a long-term goal to be among top five in global sales.

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