A visitor is reflected as he takes pictures of a new Ford Aspire car during its launch in New Delhi, India, October 4, 2018. REUTERS/Anushree FadnavisCo has 2% share of India's car market, struggled to boost saleswill stop manufacturing in India and take a hit of about $2 billion as it does not see a path to profitability in the country, becoming the latest automaker to leave a major growth market dominated by Asian rivals.
The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit. The carmaker entered India 25 years ago but has a less than 2% share of the passenger vehicles market. In its statement, Ford said it accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.
"Despite efforts, we have not been able to find a sustainable path forward to long-term profitability," Ford India head Anurag Mehrotra said in the statement. "The decision was reinforced by years of accumulated losses, persistent industry overcapacity and lack of expected growth in India's car market," he said.
So Ford is out Tesla is in 😀⚡️🚗⚡️
Their is something wrong with ford...
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