As Ford Motor Co shuts down its manufacturing plants in India, hundreds of workers will lose jobs.
The automotive business includes vehicle manufacturing plants of Ford India in Chennai and Sanand.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
Highlighting the importance of the Indian market, US auto giant Ford Motor Co on Tuesday had the first public showing of its new mid-size premium car 'Fiesta' with company chairman and CEO Bill Ford promising further investments
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Ford dealers in India are staring at huge losses with the automaker deciding to shut production in the country with immediate effect, automobile dealers' body FADA said on Thursday. Terming the company decision as shocking, the industry body noted that the dealers have invested over Rs 2,000 crore in creating sales infrastructure while employing around 40,000 people across the country. "The auto retail fraternity is really shocked to hear another Ford India's announcement where it has said that it will shut down production with immediate effect," FADA president Vinkesh Gulati said in a statement.
The company did not clarify if the software error affects only domestic sales or exports from the plant as well
Ford Motor Co sued luxury automaker Ferrari on Wednesday for trademark infringement after Ferrari named its 2011 Formula 1 racing car the "F150."
Automobile dealers' body FADA has urged the government to formulate a task force to monitor the compensation structure being worked out by Ford India for its dealer partners across the country. In a letter to Heavy Industries Minister Mahendra Nath Pandey, FADA president Vinkesh Gulati also requested the government to instruct Ford India to keep the industry body in the loop regarding the compensation structure for the dealerships. "We humbly request your Ministry's intervention... Create a task force which takes day-to-day updates from Ford India to monitor the compensation plan for automobile dealers and dealership employees," Gulati said in the letter.
About 1,800 workers at Rico Auto Industries, in Gurgaon near Delhi, ended their almost 50-day strike following an agreement with the management on reinstatement of some employees.
Tata Motors has acquired Ford's British marquees Jaguar and Land Rover for $2.30 billion in an all cash deal, sealing a deal that it pursued for nine months. Under the deal, Tata would continue to source engine from Ford, which would be paying about $600 million toward the pension liabilities of Jaguar-Land Rover employees.
It plans to recall another 700 EcoSport vehicles made between January and February 2016 and fitted with a 60/40 rear folding seat
US carmaker Ford Motor Co, which aims to enter the Indian small car market by 2010, plans to make the country a regional hub for exports, both for the cars and engines.
Volvo will hold discussions with its parent company to start assembly operations in India by the end of this year.
Tata Motors made waves when it bought the Jaguar and Land Rover brands. Test your knowledge about the erstwhile owner of these brands -- Henry Ford.
Ford Motor Co on Wednesday said it expects the sale of its two European marques Jaguar and Land Rover, in which India's Tata Motors has evinced interest, to be through either by this year-end or early next year.
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
Ford India has introduced a new line-up of its mid-size sedan Fiesta in New Delhi.
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Mahindra group and Ford Motor Co will jointly develop new SUVs and a small electric vehicle as part of several initiatives to take forward their collaboration pact signed last year.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
Seven of the 30 largest U.S. corporations paid more money to their chief executive officers last year than they paid in U.S. federal income taxes, according to a study released on Tuesday that was disputed by at least one of the companies.
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Ford Motor Co plans to triple exports from India.
Nissan and Renault say they will compete with new models, especially small cars, and by growing their dealer network.
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Tesla, which produces the luxury Model S sedan and Model X sport utility vehicle, aims to become a high-volume automaker in a matter of years
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Car makers are cautiously optimistic, even as two-wheeler firms are clearly upbeat.
Many say Tata Motors has perhaps paid the price for being too ambitious.
During a crisis situation, effective communication both internally and externally is one of the most important measures.
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