Ford continues to struggle by posting losses in moribund European economies, and – surprisingly – the growth markets of Asia Pacific and Africa.
Ford Motor is now showing its latest version of a Fiesta derived crossover dubbed EcoSport at New Delhi Auto Expo. EcoSport was developed on Ford’s new global B-segment platform, which will be the basis for a claimed 2 million units of production by 2015.
More than 2.7 million passenger cars and light-commercial vehicles were sold in India in 2010, up from just 700,000 light vehicles in 2000. India, a country with a population of nearly 1.2 billion, is expected to reach 11 million light-vehicle sales by 2020. (See India to be Third Largest Auto Market behind China and U.S.)
India is projected to become the world’s third largest light vehicle market by the end of the decade after China and the U.S. Ford lags badly behind competitors in Asia, and is playing catch-up.
At the EcoSport unveiling Ford CEO Alan Mulally, said the global compact SUV is the second of eight new vehicles that Ford plans to bring to India by mid-decade. EcoSport will be sold in Brazil, India, and ASEAN markets. A European model is likely, but Ford’s North American management for two generations has refused to offer the compact cute ute.
The EcoSport has sold particularly well since it was launched in South America in 2003 as the region’s first affordable SUV, selling 700,000 vehicles in nine years. The EcoSport will be produced at flexible assembly plants in Brazil, India, and other markets to be announced at a later time.
Ford recently broke ground in Sanand, Gujarat as part of an investment of approximately $1 billion to build new vehicle manufacturing and engine plants. Ford also announced earlier an investment of $72 million by 2012 to expand its existing powertrain facility in Chennai. Ford’s total investment in India to date is approximately $2 billion.
