Even if the person in the driver’s seat of Ford India may change, the company will stick to its basic plan of aggressive growth. It had declared earlier it would launch eight new products by the middle of the decade and complete its second plant in India by 2014, said Joginder Singh, who is taking over as president and managing director of the company next month.
The company is looking forward to launching EcoSport mini-SUV next year, which according to him, is the next “game changer” and “more transformational product than Figo” for the company in India. Singh, who has been the president and managing director of Ford Business Services Centre, has been appointed president and managing director of Ford India effective December 1, 2012.
Singh said the company saw a huge opportunity in India and though the market sentiments had some issues recently, the fundamentals of the economy was strong. “Our plans are exactly what it was earlier ,” he told reporters here.
“We are on a growth trajectory and expect almost 70 per cent of our growth to come from the Asia Pacific region, mainly from China and India, in the next decade,” he added.
However, he did not comment on how much it would contribute to its business, mentioning “it is much less.”
The company would look to expand its presence in the country, increase dealership point and explore opportunities in Tier II, III cities through dealership partners.
On the proposed launch of EcoSport, he said the SUV segment is one of the fastest- growing in India and the company was looking at the advantage of fuel efficiency with the ecoboost in the product to work in favour of its growth.
The challenge would be to grab the opportunities available to the company, he added.
On his retirement from the post of president and managing director of Ford India, Michael Boneham said he was returning to Austalia to spend a retired life. In the journey of the company in the last 4-5 years, it has seen many developments. The company started operations with around 30,000 units a year, production has grown to 100,000-130,000 units. While there was no engine production at the start, the company at present manufactures engines and even exports them, he said.