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 in the market "critical to our plans."
"This market (India) is critical to our plans for building a Ford Motor Co for the 21st century," Ford said after unveiling the new car, which will be available in a 1.6-litre petrol engine and a 1.4-litre common rail diesel engine.
Ford said as the company accelerated efforts to meet global challenges in the face of current problems in the US market, investing in growing markets was the way forward.
"India is right at the top of that list," he emphasised.
He said the company had planned investments for growing markets, including India, though refusing to specify numbers.
Ford said the company was also looking at enhanced sourcing of components from India as it held a "great potential", especially as the company was going in for cost and manpower rationalisation in developed markets.
On its new products, Ford said Fiesta had been specifically designed to meet Indian conditions. "Fiesta is truly a product of and for the Indian market," Ford said, pointing out that engineers from India had been involved in the design and development stage of the car.
He also said that Ford Motors was looking to increase the research and development activity from India.
On the suitability of the Fiesta for Indian conditions, the company said it has taken note of the monsoon flooding while designing the vehicle. Fiesta also promises superior air-conditioning, again an important feature for the Indian market.
Ford said the new launch would push up sales of the company in India. Interestingly, even after more than a decade of operations in India, the global biggie has not managed to gain a strong foothold in the growing Indian market, with its share in single digit percentage.
"We expect Fiesta to do a lot for us in terms of sales. I hope it will increase our sales significantly in India," he said.
Ford India, which has its plant near Chennai, currently sells four models in India, including the flagship 'Ikon', SUV 'Endeavour', premium sedan 'Mondeo' and the recently-launched 'Fusion'.
The company's sales for the first six months of this fiscal dropped 24.8 per cent to 9,314 units from 12,399 units in April-September '04.
Ford chairman and CEO Bill Ford with Arvind Mathews, managing director and president of Ford India launching Ford Fiesta, an all new sedan developed specially fot the Indian market in New Delhi on Tuesday.
Photograph: Dijeshwar Singh/Saab Pictures
PTI
