Ford is the fifth automaker to shut shop since 2017, after General Motors, Man Trucks, UM & Lohia and Harley-Davidson.
Vinkesh Gulati, President, Federation of Automobile Dealers Associations (FADA), has voiced his concerns over the sudden exits by automakers, which have resulted in huge losses for businesses. This comes in the wake of Ford announcing its exit from the Indian market.
Ford is the fifth automaker to shut shop since 2017, after General Motors, Man Trucks, UM & Lohia and Harley-Davidson. According to FADA, 64,000 jobs have been lost as a result of OEMs exiting the market.
Among the five OEMs that have exited in recent times, Ford has had the largest setup comprising of 170 dealerships and 40,000 employees. General Motors had 142 dealerships that employed 15,000 individuals. Harley-Davidson, Man Trucks and UM & Lohia dealers had a workforce of 2,000, 4,500 and 2,500, respectively.
FADA has requested the Minister of Heavy industries to formulate legislation to safeguard the interests of the dealers as well as customers and protect them from unfair termination of dealership agreements.
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