Ford India recently got an approval for investing $500 million for setting up Indian operations and their further expansion. The parent company Ford Motors faced economic crisis and did not file for bankruptcy. Ford India is quite eager to enter the small car market in India where it currently lacks presence.
According to Ford India Managing Director, Michael Boneham, the Indian operations did not receive any distress calls from either Ford Motors in US or Ford Asian center operations in Bangkok. The company had already announced investments worth $500 million earlier and there was no intimation to the Indian operations to hold them back. The company still sticks to its original plans for India as there had been considerable slow down in the market but definitely no meltdown like the other markets.
Ford considers the small car launch to be a critical part of its overall strategy to grab larger market share and strengthen its presence in India. Ford intends to retain its brand image in India thus will go ahead with its original plans. Boneham remarks that having a small car in India is a necessity to be present here successfully.
