In the fourth-quarter, Ford Motors maintain their predictions for 2015 profit forecast, beating all Wall Street expectations. Wall street analysts predicted a profit of 23 cents per share whereas Ford managed to bag 26 cents per share, excluding special items. Their net income, however, dropped from last year's $3.07 billion and stood at $52 million. Ford earned a revenue of $35.9 billion, beating the analysts' prediction of $34.54 billion.
An upbeat Mark Fields, president and chief executive of Ford Motor, who was in India for the launch of its manufacturing and engine plant in Sanand, Gujarat, informed journalists that after two decades, he is finally looking forward to profits from Ford's India operations.
Mr Fields elaborated Ford's India plans, aligned with Prime Minister Modi's ‘Make in India' philosophy. During the coming year and a half, Ford plans to enter new product segments in India, expand its product portfolio, and introduce three new products. It is looking for making India their manufacturing hub to cater to both the domestic market as well as the exports market. It vies to tap into the global development process as well as develop the dealer and distribution network.
In a separate event, at a graduation day function at the Kumaraguru College of Technology, in Coimbatore, a top official of Ford, David Dubensky predicts that by 2020, India will become the third-largest auto manufacturer in the world, after the US and China. The Indian automotive industry is expected to manufacture 7 million vehicles by 2020, he said.
Since the auto industry contributes 7 percent to the GDP and also affects development of other crucial and associated sectors, this is expected to add a major boost to the Indian economy.
Motivating students to join the automotive industry, Mr Dubensky further explained that Ford has been able to leverage its resources all across the world for the last 110 years only by working together as a collective, as one global team. He advised all to create a conducive environment to work together, for a larger goal, and towards a better world.
