Chennai, March 21: Despite a tough Indian market, Ford India, the wholly-owned subsidiary of US-based Ford Motor Company, is not revisiting its business plan of launching eight new models by 2015, said a senior official.
“We are on target with our plans. The Gujarat plant will be ready by the end of 2014 and the first model will roll out in early 2015,” Ford India president Nigel Harris told reporters here Thursday night.
He said the Gujarat plant has around 1,200 workers and many of them have been transferred there from the company’s plant near Chennai.
The investment in Gujarat plant is around $1 billion and there may be some short-term plan, he said.
When asked about Ford India’s plans to roll out eight new models by 2015, he said: “No comments on the eight products.”
He said the company’s plants in Tamil Nadu and Gujarat would contribute to the manufacturing of products.
Harris denied that the company was over-optimistic about the Indian car market touching 7,000,000 units by 2020 at a time when another company had expressed reservations about the market touching 5,000,000 units by 2015.
According to him, the economic indicators are strong and the size of Indian middle class is expected to grow to fuel the demand for cars.
Meanwhile, Ford India is asking its vendors to increase their capacity to cater to the demands of its sports utility vehicle Ecosport as the waiting period ranges between three-six months.
“We hope to catch up with the demand for Ecosport next year. We got orders for 60,000 units and have supplied 40,000 units till date,” Harris added.