Ford to increase market share by new car launches

Michael Boneham, president and MD of Ford India here on Thursday indicated that the US car maker, Ford has decided to launch a new car every 12 to 18 months in India to enhance its market share. However, he did not indicate what sort of market share the company aims to achieven the long run. Talking to newsmen at the inauguration of Ford’s new dealership, Victoria Ford, Mr. Boneham said: "We now have a marketshare of nearly 2% and we want to grow it significantly in coming years. Launching of new cars from the Ford stable, will play a crucial role in growing our market share in India."

For 2009, Ford India aims to achieve sales of 30,000 cars compared to 29,000 cars sold in calendar 2008. "In September ‘09, we have been able to sell 3,500 cars which is a 50% increase year-on-year basis," said Nigel Wark, executive director (marketing, sales and services). By investing $500 million, company will expand production at its Chennai plant from 1 lakh to 2 lakh vehicles, apart from producing 2.5 lakh engines, both in petrol and diesel.