Ford Motor India would announce an across the board price hike next month, a top company official said on Wednesday.
Ford Motor India on Monday said the sales of its flagship model Ikon crossed the 10,000 mark in the first five months this year and the company was poised to post profit in 2004.
Ford Motor India plans to hike prices by up to Rs 19,000 on mid-size car Ikon next month after steep increase in steel prices raised input costs and put pressures on margins.
Ford Motor India said on Monday that it hopes to wipe out its losses this year riding on the growing sales of its mid-size sedan Ikon.
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.
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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.
Inspiring story of America's iconic CEO.
A source close to the company said no appointment was likely until the last week of January or in February.
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.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
The automaker will invest USD 195 million (about Rs 1,300 crore) and would employ 3,000 workers over the next five years, Ford Executive Chairman Bill Ford said in the Tamil Nadu capital today.
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EcoSport will be offered in four variants in petrol and diesel, mated with automatic transmission for effortless driving.
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Ford Motors India has apologised for an ad campaign that showed scantily-clad, voluptuous women gagged, bound and stuffed in the trunk of the car maker's Figo model.
Share of diesel vehicles has been on the rise in the overall vehicle sales in the country.
As of Feb. 28, the second-largest US automaker received six reports of tanks with a fuel odour or leak due to the defect.
Early this year, Ford displayed SUV-Ecosport at the Auto Expo held in New Delhi.
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The company did not clarify if the software error affects only domestic sales or exports from the plant as well
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It's earlier prime contender, Honda City, is already in the market now loaded with automatic gearbox.
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Teams of both companies are collaborating on all areas of mutual interest including electrification, distribution and product development.
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 Motor Co sued luxury automaker Ferrari on Wednesday for trademark infringement after Ferrari named its 2011 Formula 1 racing car the "F150."
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
It plans to recall another 700 EcoSport vehicles made between January and February 2016 and fitted with a 60/40 rear folding seat
Ford India has created waves in the Indian hatchback market with its latest offering the Ford Figo.
The new millennium has seen a downturn in profits for this brand. But knowing the legacy that is Ford, it can be safely said that success is just around the corner.
India's role as an important player in the future of Ford Motor Company's international strategy was underscored on Wednesday when the company's President and CEO Alan Mulally unveiled an all-new small car targetting the Indian car market: the Ford Figo.
After turning around the fortunes of the iconic Land Rover, Tata Motors on Tuesday said that it plans to start assembling the high-end SUV in India from next year.
The current Explorer and Explorer Sport Trac models are built at the companys Louisville assembly plant in Kentucky.
'We announced a $500 million investment plan for India. I have not received a single call from either the US or Bangkok (Ford's Asian centre of operations) asking me to freeze the investment programme or to scale it down,' says Michael Boneham, MD, Ford India.
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Ford surely needs something special to improve its fortunes in India -- the new battlefront for the world's top car makers.
While auto sales in the US have plunged, vehicle sale in China has more than doubled since 2005, rising near 13 million units this year.
The Chapter 11 protection has been sought for the company and certain of its US subsidiaries. In a statement on Thursday, Visteon said that none of its subsidiaries or joint ventures outside the US are part of the filing.
The surprise was Conde Nast Portfolio's topper for the world's best-ever CEO. It was Henry Ford, founder of Ford Motors. There is no doubt that Ford was a great entrepreneur and business visionary. But, with the hindsight of almost a century, it is worth questioning whether he was a good CEO. Ford could easily have won the accolade in his lifetime for revolutionising the personal transportation industry with the Model T.
