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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (9627)11/17/1999 1:57:00 PM
From: Mohan Marette  Read Replies (1) of 12475
 
Ford India says gets 5,437 orders for IKON car in one week

india.ford.com

Wednesday November 17, 11:27 am Eastern Time

MADRAS, India, Nov 17 (Reuters) - The Indian unit of Ford Motor Co (NYSE:F - news) said on Wednesday it had received 5,437 orders for its new mid-sized IKON car, scheduled to be launched in the local market in late November.

``Ford India Ltd today announced that it has received a total of 5,437 order receipts for the IKON in the first full week of order taking,' the firm said in a statement in the southern Indian city of Madras.

The company is targeting sales of 20,000 IKON cars in 2000. The car will be produced at the new Maraimalai Nagar plant near Madras.

Ford has so far invested over 17 billion Indian rupees ($391.8 million) in its Indian operations.

($1 = 43.38 rupees)
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