Financial Daily from THE HINDU group of publications
Friday, Nov 05, 2004
Financial Daily from THE HINDU group of publications Friday, Nov 05, 2004 |
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Corporate
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Announcements Ford Fusion priced at Rs 6.2 lakh Our Bureau
New Delhi , Nov. 4 FORD Motor India today announced the price of its new urban activity vehicle `Fusion' at Rs 6.20 lakh (ex-showroom, Delhi) and said that it would wipe out accumulated losses in the next three to five years. The premium variant of the Fusion would cost about Rs 75,000 more, the Ford India Managing Director and President, Mr David Friedman, told a news conference. The Indian arm of the US automobile major plans to post net profit this year on an investment of Rs 1,700 crore and will also launch `Hurricane', a variant of SUV `Endeavour' this month and a version of luxury sedan `Mondeo' early next year. When asked how much was the accumulated loss of the company, Mr Friedman declined to quantify the amount. The company aims to sell 500 to 1,000 units of `Fusion' initially, which will be ramped up gradually. With the launch of `Fusion' and the company's projected sales of 27,000 units of the `Ikon' sedan this year, Ford Motor has started the second shift of production at its plant on the outskirts of Chennai. "We will study the response for Fusion. We may look at the third shift of production," he said.
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