The Indian car market may have slowed down, but not enough to shake the confidence of global auto majors. Undeterred by declining sales — the industry is set to return negative numbers for the second fiscal in the running — companies are gung-ho, refusing to tone down their enthusiasm. For them, India is a "must-have" and they'd play for the "long haul".
"India is one of the most crucial markets for Honda globally, and we'll continue to drive in new products here," Takanobu Ito, global president and CEO of Honda Motor Co, said. "We've set a challenging India sales target of reaching 3 lakh units annually by 2016-17 and are committed to support this expansion, introducing new products and technologies."
The optimism was shared by Jim Farley, global VP for marketing, sales & service, Ford. "We're making a big investment commitment here and believe in the future. Generally, it is not unusual in a developing country to see changes in the environment that temporarily affect the industry. But the market does come back," he said. "The fundamental demand of the customer is there. The willingness to upgrade to a more expensive vehicle is there. The growth in smaller-tier markets is also there despite overall downturn." Ford is doubling its India investment to $2 billion as it comes up with a second plant in Gujarat.
"India is one of the most crucial markets for Honda globally, and we'll continue to drive in new products here," Takanobu Ito, global president and CEO of Honda Motor Co, said. "We've set a challenging India sales target of reaching 3 lakh units annually by 2016-17 and are committed to support this expansion, introducing new products and technologies."
The optimism was shared by Jim Farley, global VP for marketing, sales & service, Ford. "We're making a big investment commitment here and believe in the future. Generally, it is not unusual in a developing country to see changes in the environment that temporarily affect the industry. But the market does come back," he said. "The fundamental demand of the customer is there. The willingness to upgrade to a more expensive vehicle is there. The growth in smaller-tier markets is also there despite overall downturn." Ford is doubling its India investment to $2 billion as it comes up with a second plant in Gujarat.
Source: Auto News in Hindi
No comments:
Post a Comment