Ford Stops Making Cars In India
  • 3 years ago
Last week, Ford ($F@US) chose to stop making cars in India—resulting in a $2 billion hit to the Dearborn-based automaker. Falling in line with General Motors ($GM@US) and Harley Davidson ($HOG@US), Ford decided to close factories in India after the market was not as strong as experts thought. When Ford entered the Indian market in the 1900s, the manufacturer thought this was the next China—it was wrong. India was supposed to be the third-largest auto market globally, but that never panned out as sales stalled over the past few years. The Indian economy has not grown like other industrial powers, and Indian customers who could afford a car preferred cheaper, smaller vehicles from Japanese manufacturers. Ford also left Brazil in January.
Recommended