Ford Motor’s Challenge To Stay In The Indian Market
Ford Motor’s challenge to stay in the Indian market, the possibility of the joint venture between Ford and Mahindra ends.
In the Indian car market, American car company Ford Motor is seeing difficulties. He announced a joint venture with India’s leading automobile company Mahindra & Mahindra.
On Friday, on behalf of both companies, it has been told that negotiations for setting up joint ventures have been stopped. For this, the change in the global situation has been attributed to the past few months.
Ford has said that it will now independently explore new opportunities in the Indian market. But looking at the sales situation of the company, it can be said that this work will be very challenging.
However, Ford has also indicated that it is not giving up on the Indian market right now and that electric vehicles will be the most stressed in future plans.
Ford and Mahindra had announced in October 2019 that they would set up a new joint venture based on the Indian market and the global market in which Mahindra would hold the highest share.
But during the last 15 months, the global situation has also changed a lot and Corona has also changed a lot. However, the first agreement between the two companies was reached only in September 2017.
Ford, despite being the world’s leading car company, could not make a significant place in the Indian market, after which Japanese and Korean companies entering the Indian market have made a significant place.
Ford has been in the Indian market since 1995.
On the other hand, Mahindra also has many challenges. The acquisition of South Korean company Ssangyong Motor Company was also not good for the company.
The insolvency process of Ssangyong has begun. The company is also looking for a buyer for this. The company’s share in the Indian market is also declining.
Despite all the capabilities of the Indian market, American companies have failed to achieve significant achievements. In the last few years, Fiat and General Motors have taken over from the market here.
Recently, American bike manufacturer Harley Davidson has also decided to exit the Indian market.
During the Corona period, the production and sales of many companies have been badly affected and they are struggling for a better future.
