• About Us
  • Submit Your Story or Interview
  • Advertise with US
  • Career
  • Contact Us
  • Write For us
startup insider
  • Home
  • CEO Story
  • Startup Stories
  • Interviews
  • Magazine
  • Funding News
  • Press Release
  • Submit Your Story or Interview
No Result
View All Result
  • Home
  • CEO Story
  • Startup Stories
  • Interviews
  • Magazine
  • Funding News
  • Press Release
  • Submit Your Story or Interview
No Result
View All Result
startup insider
No Result
View All Result
Home News & Updates

Why Ford is Exiting India

Harsh Verma by Harsh Verma
in News & Updates, Auto
0
Ford
Share on FacebookShare on Twitter

Ford (owned by general motors), which has invested around $2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo, and Ford Aspire produced from these plants. Ford India has informed its employees that it is going to close the car manufacturing plant in India and with this decision of Ford India, more than 4000 employees will lose their jobs. Ford India, the Indian subsidiary of American car company Ford, has decided to close its plant after incurring a loss of about two billion dollars.

Ford

In 2017, General Motors had said that it would stop selling vehicles in India as its business remained unchanged after struggling for more than two decades. Ford India’s business journey in India has not been great so far! For the past few years, the company has failed to increase the revenue and sales of its vehicles in the Indian market. The Sanand plant in Gujarat is currently operating at about 10 percent capacity and is expected to be the first to shut down. It is expected that the Chennai plant of Ford India will continue to function till the year 2022.

Read More: Being a Startup: Success Story of BIIPL in the Manufacturing Industry

Along with this, exports of Ford India’s cars have also fallen and due to delays in launching new products, Ford India’s share in the domestic market has fallen sharply. The total sales of the Ford vehicles during April-August in the current financial year was 11.42 lakh vehicles, as compared to 10.91 lakh in the same period of 2019-20. Ford will continue to manufacture cars in India for the next few quarters as the reason for this is the process of fulfilling global orders and synergizing Indian operations.

Ford

Tesla To Enter Indian Market

On the other hand, Tesla is planning to launch it in India. Tesla has sought a reduction in import duty on electric vehicles (EVs) in India for the current engine size and cost, insurance and freight (CIF) on cars imported as Completely Manufactured Units (CBUs) as the Customs duty ranges from 60 to 100 percent.

 

Tags: FordFord India
ShareTweetShare
Previous Post

Being a Startup: Success Story of BIIPL in the Manufacturing Industry

Next Post

Exciting Success Story of CEO Vishal Wakchaure

Harsh Verma

Harsh Verma

Related Posts

Chumbak
News & Updates

Chumbak Raised funding through Klub

01/10/2022
Aarav Solutions
Funding News

AI Startup Froot has been Acquired by Aarav Solutions

01/10/2022
Preimage
News & Updates

Preimage raises money from Pi Ventures

30/09/2022
Startups-List
News & Updates

CRED Tops the List of Startups List of 2022 in India

30/09/2022
Startup Fundraising
Funding News

Why Is Startup Fundraising Now Linked With Revenue?

30/09/2022
PhysicsWallah
News & Updates

PhysicsWallah now provides test material for GATE

30/09/2022
Next Post
Vishal Wakchaure

Exciting Success Story of CEO Vishal Wakchaure

Rishikesh Tiwari

Now Build Tech Startup With no Tech Experience: New vertical by Kanris Infotech

Carorbis

Carorbis: One-Stop Destination for All Your Automotive Needs

Subscribe For More Update

ADVERTISEMENT
  • Business Magazines in India

    Top 10 Business Magazines in India in 2022

    1 shares
    Share 0 Tweet 0
  • Swiggy Startup Success Story – In-Depth Analysis

    1 shares
    Share 0 Tweet 0
  • Despite Covid-19 challenges, Banksathi founders committed to their Craft

    1 shares
    Share 0 Tweet 0
  • The Succes Story Of Byjus: The Future Of Online Education

    1 shares
    Share 0 Tweet 0
  • Unique Hobbies Based Startup HOBBYHUB

    1 shares
    Share 0 Tweet 0
Healthcare

The Start-Up That’s Making Healthcare More Accessible To Corporate India

02/02/2023
Nithra

Mr.Gokulanathan Ponnusamy Founder and CEO of Nithra mobile app development company have provided employment for many youths in Tamil Nadu

21/01/2023
Content Marketing

5 Content Marketing KPIs That Every SaaS Business Owner Should Know

18/01/2023
startup insider

Startup Insider is a prominent news website which deals with startup news, stories, interview tips, gives the latest update about events and conferences. We aim to provide significant knowledge and information to the people who visit this website.

Mail : media@startupinsider.in

Phone : 91-9034408083

Categories

  • Auto
  • Blog
  • ceo Story
  • Crypto
  • Funding News
  • Interviews
  • News & Updates
  • Press Release
  • Profile
  • Startup Stories


img

Recent

  • The Start-Up That’s Making Healthcare More Accessible To Corporate India
  • Mr.Gokulanathan Ponnusamy Founder and CEO of Nithra mobile app development company have provided employment for many youths in Tamil Nadu
  • 5 Content Marketing KPIs That Every SaaS Business Owner Should Know
  • About Us
  • Contact Us
  • Submit Your Story or Interview
  • Advertise with Us
  • Career
  • Privacy
  • Terms of Use
  • Write For us

© 2020 Startup Insider

No Result
View All Result
  • Home
  • CEO Story
  • Startup Stories
  • Interviews
  • Magazine
  • Funding News
  • Press Release
  • Submit Your Story or Interview

© 2020 Startup Insider