Ford company is exciting Indian market on 9th September ford took this decision. This means that Ford India will be shutting down its operations in India, which includes the domestic production of its cars. But the company will continue to manufacture the export vehicles till 2022.
The company was facing huge loss in past few years. The company had recorded operating losses of more than $2 billion over the past 10 years and a $0.8-billion non-operating write-down of assets in 2019 alone.
With poor sales and weak exports, the troubles faced by the company had been compounded by the COVID-19 crisis. The company had only managed to sell 2,790 units in June this year, compared to 2,872 units in June 2020.
Ford company shows 4000 employees exit door. The company said at least 600 workers from the Sanand Factory “will continue to support Ford’s business in India.”
Ford will also continue to keep its doors open for its Ford Business Solutions operations. The company aims to expand its 11,000 strong workforce to include software developers, data scientists, R&D engineers, and finance and accounting professionals to support its global operations and for the modernisation of the brand.
