- Ford India registered 29% growth in combined domestic wholesales and exports in 2014 to 154,121 vehicles from 119,715 in 2013; Solidifies India’s position as an export hub
- Ford India sold 14,401 vehicles in combined domestic wholesales and exports in December, wrapping up a challenging year for the automotive industry
- Ford Credit India received license to operate with first dealer wholesale financing planned in 2015 to support the next phase of vehicle introduction in next 18-24 months
New Delhi, India, January 02, 2015 – Despite challenging market conditions, Ford India sustained its momentum in 2014 with a 29% increase in combined domestic wholesales and exports to 154,121 vehicles.
Exports in the year 2014 nearly doubled to 76,981 vehicles while domestic wholesales stood at 77,140 units from 80,431 units in 2013.
In December, the company sold 14,401 vehicles in combined domestic wholesales and exports, compared to 11,209 vehicles the corresponding month last year. December exports stood at 10,647 vehicles against 5,338 vehicles a year ago, while domestic wholesales were 3,754 vehicles compared to 5,871 units sold in the same period last year.
“2014 has been a challenging year for the Indian automotive industry. Factors like high interest rates and inflation impacted the much needed turnaround in sales and consumer sentiment,” said Anurag Mehrotra, executive director, Marketing, Sales and Service at Ford India. “The government’s recent decision to discontinue excise duty concessions will only add to the woes of the automotive industry with customers postponing purchases. We hope that the government will introduce some pro-consumer policies in its upcoming budget to help improve market sentiment and boost demand.”
“2015 is going to be an exciting year for Ford in India. From the launch of our new manufacturing plant in Sanand, Gujarat to a robust vehicle introduction over the next 18 to 20 months, we will bring the best of Ford to our Indian customers.” Mehrotra added.
India is a key market in Ford Motor Company’s Asia Pacific strategy. As part of its overall commitment to India, Ford is on course to invest $2 billion, nearly half of which is being spent on a new manufacturing facility in Sanand, Gujarat, that will nearly double the company’s installed production capacity in the country to 610,000 engines and 440,000 vehicles a year.
2015 will also witness the launch of Ford Credit India which has been granted a license by the Reserve Bank of India to operate as a nonbanking financial company and plans to begin dealer wholesale inventory financing in the first quarter of 2015.
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- Ford India registered 29% growth in combined domestic wholesales and exports in 2014 to 154,121 vehicles from 119,715 in 2013; Solidifies India’s position as an export hub
- Ford India sold 14,401 vehicles in combined domestic wholesales and exports in December, wrapping up a challenging year for the automotive industry
- Ford Credit India received license to operate with first dealer wholesale financing planned in 2015 to support the next phase of vehicle introduction in next 18-24 months
New Delhi, India, January 02, 2015 – Despite challenging market conditions, Ford India sustained its momentum in 2014 with a 29% increase in combined domestic wholesales and exports to 154,121 vehicles.
Exports in the year 2014 nearly doubled to 76,981 vehicles while domestic wholesales stood at 77,140 units from 80,431 units in 2013.
In December, the company sold 14,401 vehicles in combined domestic wholesales and exports, compared to 11,209 vehicles the corresponding month last year. December exports stood at 10,647 vehicles against 5,338 vehicles a year ago, while domestic wholesales were 3,754 vehicles compared to 5,871 units sold in the same period last year.
“2014 has been a challenging year for the Indian automotive industry. Factors like high interest rates and inflation impacted the much needed turnaround in sales and consumer sentiment,” said Anurag Mehrotra, executive director, Marketing, Sales and Service at Ford India. “The government’s recent decision to discontinue excise duty concessions will only add to the woes of the automotive industry with customers postponing purchases. We hope that the government will introduce some pro-consumer policies in its upcoming budget to help improve market sentiment and boost demand.”
“2015 is going to be an exciting year for Ford in India. From the launch of our new manufacturing plant in Sanand, Gujarat to a robust vehicle introduction over the next 18 to 20 months, we will bring the best of Ford to our Indian customers.” Mehrotra added.
India is a key market in Ford Motor Company’s Asia Pacific strategy. As part of its overall commitment to India, Ford is on course to invest $2 billion, nearly half of which is being spent on a new manufacturing facility in Sanand, Gujarat, that will nearly double the company’s installed production capacity in the country to 610,000 engines and 440,000 vehicles a year.
2015 will also witness the launch of Ford Credit India which has been granted a license by the Reserve Bank of India to operate as a nonbanking financial company and plans to begin dealer wholesale inventory financing in the first quarter of 2015.
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