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Reuters Reuters
30 April, 2021, 8:04 pm
NEW DELHI (Reuters) – Ford Motor Co expects to firm up capital allocation plans for India in the second half of 2021, a senior executive said in an email to staff, as the automaker overhauls its strategy in a loss-making market.
Dearborn, Michigan-based Ford has tasked senior executive Steven Armstrong with evaluating investment plans for India in his new role as transformation officer, South America and India, the automaker said in a separate statement this week.
“We have a lot of work to do as we continue to assess our capital allocations in the market,” Dianne Craig, president of Ford’s International Markets Group (IMG), said in an email to staff on Wednesday, referring to India.
Ford to decide on India investment plan in second half of 2021
Updated:
Updated:
April 30, 2021 11:41 IST
Ford is not the first western automaker to struggle to win over India’s frugal buyers and turn a profit.
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Ford entered India 25 years ago but has a less than 2% share of the passenger vehicles market.
| Photo Credit: Reuters
Ford is not the first western automaker to struggle to win over India’s frugal buyers and turn a profit.
Ford Motor Co expects to firm up capital allocation plans for India in the second half of 2021, a senior executive said in an email to staff, as the automaker overhauls its strategy in a loss-making market.
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NEW DELHI Ford Motor Co. expects to firm up capital allocation plans for India in the second half of 2021, a senior executive said in an email to staff, as the automaker overhauls its strategy in a loss-making market.
The automaker has tasked senior executive Steven Armstrong with evaluating investment plans for India in his new role as transformation officer, South America and India, the automaker We have a lot of work to do as we continue to assess our capital allocations in the market, Dianne Craig, president of Ford s International Markets Group (IMG), said in an email to staff on Wednesday, referring to India.