Chennai, May 22 (IANS) Ford India Pvt ltd, the Indian subsidiary of the US Ford Motor Company, hopes to achieve 10 percent sales growth despite difficult market conditions while completing expansion of its diesel engine manufacturing capacity, said a top company official.
Speaking to reporters here Tuesday, Ford India's president and MD Michael Boneham said: "We expect the market environment to be difficult. I don't forsee an upturn in the market till the festive season. We expect a 10 percent growth over next couple of months. The market is expected to pick during festive season."
Boneham said the company will not be greatly impacted due to the rupee depreciation as the levels of component localisation are high.
According to him, Ford India recently completed expansion of its diesel engine facility from 250,000 units to 340,000 units at an investment of around $72 million.
Ford India's plant at Maraimalainagar, around 50 km from here, is flexible to roll out diesel and petrol vehicles.
Queried about exports, Boneham said the company will increase the number of export markets to around 50 countries from the current number ranging around 35 countries.