GM and Ford Plan to Dent Indian Car Market with New Launches
American auto giants General Motors and Ford are planning to stun the Indian automobile market with a slew of launches in volume segments, keeping in mind the downfall of the top two companies Maruti and Hyundai. General motors and Ford have planned to cash on the time that has brought the right opportunity for the two to spread their products throughout the domestic terrain and improve their sales revenue and gain a better position, propelling their growth at global level.
Ford Figo 2012
Ford and General Motors couldn’t create a buzz amongst the Indian customers in the previous years. New launches are likely to bring the companies back in the limelight. The companies will also be working on improvement in their existing distribution and sales network in the country for a better market share in the near future.
In the initial 5 months of the present fiscal both the companies lost their market grip against 2011’s gain during the same period. Thus with new launches both these auto-giants are now aiming to firm up their position.
Lowell Paddock, president and MD at General Motors India said, “Our aim is to increase market share to a double digit figure and this will depend on the new portfolio mix and market conditions.” The company is all set to launch its U-VA replacement, Sail mini in October and Sail compact sedan later.
Michael Boneham, president and managing director at Ford India said,” If GM has invested more than $1 billion, or approx Rs 5,500 crore, in India, Ford has brought double that amount as it looks at markets such as India and China to propel its global growth. India is an important market; with the kind of money we are investing, it’s at the centre of the radar.”
Ford will be launching its Sub 4 metre SUV Ford EcoSport in the earlier months of 2013. Current standings of these General motors are sixth and 7th respectively.
Image Source: ICB