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Ford to stop manufacturing cars in India, setback to ‘Make In India’ campaign

NEW DELHI: Ford Motor Co (F.N.) to stop manufacturing cars in India citing accumulated losses of more than $ 2 billion in the last 10 years.

The United States-based car manufacturing giant Ford entered India 25 years ago but still has less than 2% of the passenger vehicle market having struggled for years to win over Indian consumers and turn a profit.

In a statement released, Ford stated that it had accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.

“Despite (our) efforts, we have not been able to find a sustainable path forward to long-term profitability,” Ford India head Anurag Mehrotra said in the statement.

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Ford’s decision came as another major setback for Indian Prime Minister Narendra Modi’s “Make in India” campaign.

India was expected to become the world’s third-largest car market by 2020 after China and the United States with sales of some 5 million vehicles a year. Instead, sales have languished at about 3 million, still trailing Europe and Japan too.

Ford also stopped manufacturing cars in Brazil earlier this year.

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