Ford Motor Co. to sell its Gujarat factory? Decline in Automobile sector!
Ford motors is most presumably selling its newest Gujarat manufacturing plant.
Ford Motor Co. might sell off one of its twin plants to at least one worldwide automobile organization in the domain of its battles in this seriously competitive market, a report in LiveMint claimed.
Ford motors is most presumably selling its more up to date Gujarat manufacturing plant, reported Livemint. Ford’s moves are identified with the organization’s presumable understanding that it may not require two manufacturing plants in India in the future.
A source close to Ford told Livemint, “The Sanand plant is a more than feasible option for any existing or new original equipment manufacturer looking for setting up capacity, as it is a very modern facility and close to the port. Hence, the logistics cost can also be reined in. It is very difficult to predict the final outcome at this level since these kinds of transactions take a long time.”
Ford’s domestic deals during April-August dropped down 26% from before to 30,010 units, while exports declined 11% to 57,985 units. In FY19, residential deals rose 2.5% to 92,937 units, however fares fell 10% to 162,801 units, as indicated by the Society of Indian Automobile Manufacturers, revealed Livemint.
In any case, a delegate for Ford’s production unit in India denied that the organization has plans to auction the Sanand processing plant saying that the organization is consistently hoping to grow its creation and brand portfolio in India.