Ford India dealers currently have about 1,000 vehicles in stock, which amounts to around Rs. 150 crores via inventory funding.
Earlier today, Ford announced that it would no longer manufacture its cars in India. This has come as a shock to the dealer community.
Mr. Vinkesh Gulati, President of Federation of Automobile Dealers Associations (FADA), stated that the auto retail fraternity was shocked to hear another US auto major announcing its exit from the Indian market.
There are about 170 Ford dealers in the country with around 391 outlets. Dealers have invested approximately Rs. 2,000 crore in setting up their dealerships. While Ford India employs 4,000 people, dealerships are said to employ around 40,000 individuals.
Ford India dealers currently have about 1,000 vehicles in stock, which amounts to around Rs. 150 crores via inventory funding. The dealerships have hundreds of demo cars as well.
Mr. Anurag Mehrotra, President & MD, Ford India, has assured that the company would adequately compensate its dealers.
After General Motors, Man Trucks, Harley Davidson and UM Lohia, Ford is the 5th biggest exit from the Indian market since 2017.
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