Ford India posts a profit after 20 years

According to a media report, Ford India has posted a profit for the first time since it entered the Indian market in 1995. Sales have reportedly surpassed $1 billion during FY2017-18. The company is likely to submit its financial results for the previous year to the Registrar of Companies soon.

In India, Ford has adopted its Emerging Market Operating Model (EMOM). It includes cutting costs by forging alliances with local partners, outsourcing technology and platform sharing. Reports suggest that EMOM has helped the company grow its India business from $2.1 billion in 2015-16 to $2.8 billion in 2016-17 and $3.4 billion in 2017-18. Further, localization, sourcing and commonality have helped Ford reduce its structural costs by 40%.

Ford has partnered with Mahindra to develop two new SUVs and an electric car. The two carmakers will be sharing powertrains and will be jointly developing connected car solutions for future Mahindra and Ford vehicles.

Source: Live Mint