The FINANCIAL -- Ford India sold
7,281 domestic wholesales and export units in June, maintaining steady
sales despite continuing difficult market conditions.
Ford India sold 6,257 wholesale units in the domestic market in June. In June 2011, the company sold 7,023 vehicles.
According to Ford Motor Company, a recent increase in petrol prices, ongoing high interest rates and high inflation have all contributed to challenging market conditions and have affected consumer confidence in the Indian auto market.
“While the market continues to face difficult challenges, we believe these are only cyclical and remain confident of the long term outlook of the Indian auto industry. We are committed to our growth plans and to bringing eight new vehicles here by mid-decade,” said Michael Boneham, president and managing director, Ford India.
Ford India’s exports are up 29 percent this year, with 12,248 units exported since January. The company exported 9,460 cars in the first half of 2011.
“The export numbers continue to be particularly pleasing for us at Ford India. With our expanded powertrain facility nearing completion, Ford India will emerge as an export hub of small cars and engines regionally,” Boneham said.