Ford India, the wholly owned subsidiary of the American multinational automaker, has registered a dive in sales volume by 22.18 percent in the month of July this year. The sales in the month under review stood at 8,323 units sharply dipping from the sale of 10,696 units totalled in July last year.
In the domestic market, the sales scored by Ford India plunged down from 7,504 units in July last year to 6,236 units sold in July 2012, marking a fall by 16.89 percent. The overseas shipments witnessed a major decline of 34.61 percent with sales falling from 3,192 units in July 2011 to 2,087 units in corresponding month this year.
The company mentioned in a statement that in the Indian auto market, the customer confidence is dwindling owing to rising petrol prices, mounting interest rates along with exchange rate and inflationary pressure posing staunch challenges for the car makers and the sales volume.
Since the demand is still positive for the diesel powered vehicles, the company embarked upon ramping up the engine production capacity by 36 percent to 3,40,000 units at its production facility in Chennai. In the same month, Ford India launched a new Ford Classic Titanium variant engulfing nine unique and class leading features in a highly enticing price package.
While speaking about the sales growth in the coming months, Mr. Michael Boneham, President and Managing Director, Ford India, commented that the economic constraints in the country will recede in the long run, however, the demand boosting period during the festive season will be conveniently met with the alleviated engine production capacity.
