has launched a bigger SUV, named XUV700, but has not yet announced a firm launch date. The vehicle is expected to hit the market in October.
The automaker’s withdrawal comes at a time when the Indian passenger vehicle market has been in a decline over the last five years. Passenger vehicle sales in 2020-21 were 2.71 million units, compared with 2.77 million units the previous year, according to the Society of Indian Automobile Manufacturers . Sales had reached a peak of 3.37 million in 2018-19.... [+]
Ford entered India in 1995 in partnership with the Mumbai-headquartered Mahindra & Mahindra, which was then largely a manufacturer of tractors and utility vehicles. It constructed a greenfield plant near Chennai from where it launched a mid-size, entry-level sedan named Ikon as its first product for the Indian market. The partnership with Mahindra ended after a few years, only for the two to partner up again in 2017.
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