US auto maker Ford Motor will launch a new car model in India every 12-15 months over the next five years, with its new Figo small car to drive a tripling of sales in 2010, its India head said Tuesday.
The small car segment makes up nearly 70% of the 1.5 million cars sold annually in India, a growing market which is one of the few bright spots around the globe for the auto sector.
"If you want to be in the game here in India, you have got to be in that segment. If not, you'll be an interesting niche player, not a mainstream player," Michael Boneham, Ford Motor India's president and managing director, told the Reuters India Investment Summit on Tuesday.
"And Ford wants to be a mainstream player here."
Ford has just 2% of the Indian market, but expects that will increase with its run of new launches.
It plans to launch the Figo, its first small car for India, in the first quarter of 2010, and plans to export it to Asia-Pacific countries.
Ford is the only one of the big three US automakers to avoid bankruptcy and re-organisation this year. The No 2 US automaker by sales, Ford produces the Fiesta, Ikon, Fusion sedans and utility vehicle Endeavour in India.
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