Ford India Plans to Export Figo to Newer Markets.

CHENNAI: Car maker Ford India, the 100 per cent subsidiary of Ford Motor Corporation , USA plans to export its hatchback Figo to newer markets.

The company, which few months back began exporting its Figo models to South Africa,recently entered the Nepal market.

"Next year onwards we are planning to cover 48 countries. Initially we will export it to North African market, South America, Mexico and in the Emirates region..", Ford India Managing Director Michael Boneham told reporters here.

Stating that the car manufacturer since its launch in South Africa was ranked among the Top 10 car manufacturers, he said the company recently got additional orders of exporting 2,000 more units. "We have agreed to export 2000 more units to SouthAfrica. We would be doing around 7,000 units by year end",he said.

While taking about Ford India's focus on exports, he said the company planned to "ramp up" the Chennai facility as well as increase the supply chain base. Besides, the said the automobile major was planning to introduce eight new models in the middle of the decade but declined to elaborate.

When asked for comments on the Reserve Bank's decision to raise short-term lending and borrowing by 25 basis points today, he said the industry first needed to assess the impact of the move by the apex bank (rpt) bank.

To a query on whether the company planned to phase out its flagship sedan 'Ikon', Ford India Executive Director Nigel Wark said they were witnessing good demand for the car.

Introduced in 90s, Ford Ikon is currently available in Tier II and III cities."We are having good demand for the product and we don't have any plans to phase it out", he told media.

Ford India at its manufacturing facility in Maraimalai Nagar near Chennai currently produces Ford Figo , Ikon and Endeavour range of automobiles. The car maker last month reported 9,026 units registering a two-fold jump over the previous month which is company's highest ever sales.

Source : economictimes.indiatimes.com