Indeed, the Indian economy is refurbishing, especially its car industry. Or else Ford Motor Co., globally acclaimed American multinational corporation, wouldn�t have taken this step. The company is set to annunciate its new small car for the Indian market and the unveiling will be done by none other than Alan Roger Mulally � President and Chief Executive of Ford. Doesn�t it indicate Ford�s mounting interests in the sprawling car industry of India?
Even though there has been no official confirmation yet, it has come to the knowledge from various sectors that the new small car has been codenamed Ford B517 is expected to be launched in March next year. The new car, as per the latest information, will be built at its Chennai facility, and will come in petrol and diesel versions of 1.2 litre and 1.5 litre engine capacity respectively in order to meet the definition of a small car of the Government of India.
It has also been learnt that the car would have 85 per cent local content, and the company is in talks with Tata Steel for better steel prices with the increased volumes. The company, in the past, was sourcing steel blankets - cut steel sheets - from its sister plant in Thailand. Experts suggest, apart from penetrating the Indian market, this is a part of Ford Motor's plans to integrate car designs globally and develop compact and mid-sized cars to help improve profitability and productivity.
Ford Motor Company (NYSE: F) is an American multinational corporation and the world's fifth largest automaker based on worldwide vehicle sales, following Toyota, General Motors, Volkswagen and Hyundai-Kia. Based in Dearborn, Michigan, a suburb of Detroit, the automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford, Lincoln, and Mercury brands, Ford also owns Volvo Cars of Sweden, and a small stake in Mazda of Japan and Aston Martin of England. Ford's former UK subsidiaries Jaguar and Land Rover were sold to Tata Motors of India in March 2008.
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