Ford expects 60-70% growth from Asia Pacific and Africa region by 2020
Ford Motors the US carmaker on Friday said that they expect their one-third sales to come from Asia Pacific and Africa region by the year 2020. At present every one out of six cars sold in the international market by the company is in the Asia Pacific and Africa region. The company expects an increase in the sales figures by the end of this decade.
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The US carmaker has already said that they have planned to introduce 50 more cars and powertrains in the Asia Pacific and Africa region by the mid of this decade. The company expects that their 60-70% growth will be from these regions only by the end of 2020.Joseph R. Hinrichs Vice president Ford Motors said that the growth in India will be seen in the mid of the decade because of the economic growth of the people in the II tier and III tier countries.
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Hinrichs added that the growth in India will be seen when once the II tier and the III tier cities of the country take off by the middle of the decade. The company has also announced to invest an amount of Rs. 4,000 crore for establishing their second manufacturing unit which would have the capacity to manufacture 2.4 lakh Cars annually.
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This new plant will be in Sanand, Gujrat near the Tata Nano plant. This new unit will also have the capacity to produce 2.7 lakh diesel engine annually, and will generate employment for around 5,000 people in the state. The company has also announced to introduce 8 new models in the country by the mid of the decade i.e. 2015, this is to give a tough competition to the other car makers in the growing domestic Car market.Recently the company has launched its Ford Fiesta Sedan in the Indian Car market, Ford Fiesta Price ranges from Rs. 8.31 lakh to Rs. 10.51 lakh (ex-shpwroom Mumbai).
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