Ford Motor Co. Indian division hopes to achieve 10 percent sales growth in India, sales despite the difficult market conditions while completing expansion of its diesel engine manufacturing capacity, said a top company official.
The U.S. based automaker has invested over $70 million ($72m) to expand the annual diesel engine capacity to 340,000 units from the present 250,000.
“We will be going through a challenging period in the next few months. However, we expect to see demand picking up from festive season onwards. We are still anticipating 10 per cent year-on-year growth in 2012,” Michael Boneham, president and MD, Ford India told Financial Chronicle.
Ford India revealed earlier this week that their domestic car sales for the month of April 2012 has declined by 1.6% as they sold 7,201 cars compared to 7,319 cars sold in the month of April 2011.
Ford India saw 10 per cent decline in domestic sales at 33,999 units during January-April period, compared with 37,123 units in the same period in 2011.
As far as exports are concerned, Ford India registered an increase of 103%, as they exported 2,368 cars compared to just 1,167 cars exported in April 2011.