Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel
April 5, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding | Women Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report April 5, 2001 |
Feedback
|
|
|
Ford to unveil Ikon successor at Expo 2002BS Corporate Bureau Ford India is planning to unveil a new car at the Auto Expo 2002 to succeed the Ikon, the company's 'Josh' machine. Phil Spender, managing director of Ford India, said, "We are planning to unveil the car a the Auto Expo 2002. We will not be a single model company for long." However, he declined to say whether it would be a new variant of the Ikon or a new car altogether, citing strategic reasons. Ford India is also toying with the idea of importing the Ford Mondeo, a premium mid-sized car, for launch this year. It is understood that the company has already started testing the Mondeo in the Indian conditions. The company is expected to import the car in the form of completely or semi-knocked down form (CKD/SKD) and assemble it at its plant near Madras. The company has decided not to increase the prices of its Ikon "to book short-term profits", as some of the auto companies have done. Ford India had announced a price cut of Rs 29,000-40,000 on the Ikon, after an 8 per cent excise duty cut was announced in the recent budget. "After the excise duty cut was announced in the budget, we have passed on all the benefits to the customers. There will be an increase in sales because of the price reduction announced, but the industry has to be a little patient. It will not happen in a month. We have no plans to increase the price of Ford Ikon," Spender said at a press briefing. Randy Shockley, the new executive vice-president (marketing, sales and service) of Ford India, said, "The Ikon is a leader in its segment with a 24 per cent market share." Meanwhile, Ford India has recorded a 24.2 per cent growth in domestic sales at 2,651 units of its mid-size car -- Ikon -- sold during March against 2,134 units in the same month of 2000. It also exported 2,198 Ikon completely knocked down kits (CKDs) during the month, the company said in a statement. The March sales were 163.7 per cent when compared with February 2001 sales of 1,005 cars. During 2000-01, the company sold 28,766 cars, up 258.5 per cent against 8,023 cars sold in the previous fiscal. During this period, it sold 10,549 Ikons, including domestic sales of 5,211 units and exports of 5,338 CKDs. Having surpassed its sales target of 20,000 Ikons during the calendar year 2000, Ford India is hoping to sell 40,000 Ikons this year, including 20,000 units as exports. Powered by ALSO READ:
|
||||
