Ford sees major growth in Asia and Africa

Calcutta News.Net
Saturday 28th August, 2010

Ford is planning to dramatically increase its presence in the fast-growing automotive markets of Asia and Africa after it was revealed that the company expects 70% of sales to come from these two regions over the next ten years.

Kirk Ludtke, an analyst for CRT Capital Group, told CNN that it is important for auto manufacturers to enter these markets early because “that's where the growth is”.

“Over time, as the economy develops and as average incomes increase, the consumers in those areas can afford increasingly expensive vehicles, so carmakers can benefit from a favorable shift and mix,” said Ludtke.

India is proving to be a viable manufacturing and development base for Ford.

The Indian-produced Ford Figo has proven successful in the Indian market and will soon be exported internationally from the country.

Sales to South Africa began in May and another 50 markets will be added by Ford in 2011, according to company reports.

These include Mexico, North Africa and the Middle East.

The car is proving desirable among foreign markets with a demand for smaller cars.

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