February vehicle sales nearly tripled for Ford's subsidiary in India.
Ford India achieved a 188% increase in year-over-year sales in February, fueled by brisk sales of the Figo, according to the automaker. Ford India sold 9,293 vehicles this February, compared with 3,223 in February 2010.
The Figo, which celebrates its one-year anniversary this month, has sold more than 76,000 units since its launch, according to Ford.
|Driven by sales of the Figo, Ford India experienced a 188% jump in February vehicle sales. In December, a group of automobile journalists named the Figo the Indian Car of the Year.|
The Fiesta's arrival marks the first in a series of eight new global products that Ford plans to introduce in India by the middle of the decade.
Ford India has been expanding its sales and service network across the country. The company's dealer network has increased to more than 170 outlets in 100 cities across India.
Ford established its Indian subsidiary in 1995. With nearly 5,000 employees, Ford India operates manufacturing facilities in Maraimalai Nagar, near Chennai.
Ford's operations in the country also include its Global Business Services unit, which provides business services in the areas of IT, accounting and finance, financial services and automotive operations support, global analytics and engineering services. The operations are housed in Chennai and Coimbatore.
The Indian automotive market is expected to grow steadily over the next few decades. A Booz & Co. report predicts that by 2030, India will have the third-largest automotive market in the world.
Booz & Co. expects vehicles sales in India to surpass the United States by the mid 2030s.
Follow IndustryWeek senior editor Josh Cable on Twitter at @JCable_IW .