For its international growth Ford Motor Co is targeting fast-growing auto markets in India and China to accelerate its sales by 50% in the next four years. Ford has plans to work on an aggressive strategy to boost its sales to 8 million vehicles a year from 5.3 million by the middle of this decade.
To achieve its target of making its presence felt in the Asian market, especially in India and China, Ford has some catching-up to do, as its competitors Toyota, Volkswagen and General Motors have already established a band presence for themselves in these markets. According to a report published in New York Times, “After revamping its core North American business and posting eight straight profitable quarters, Ford is pushing hard to build up operations in Asia.” Ford’s chief executive, Alan R Mulally, in a recent interview stated the company was ready to serve its customers where the markets were growing.
The company has plans to expand its sales in Asia-Pacific-Africa division to one-third of its global sales by 2020.