Ford Plans (F) to Introduce Eight New Vehicles in India

August 26, 2010, 5:30 PM

Ford Motor Co. (NYSE: F) on Thursday announced its plans to launch eight new vehicles in India in the next five years, taking advantage of expanding in the rapidly growing market.

Ford says that its growth in Asia Pacific and Africa should account for 70 percent of the company’s global growth in the next decade. Sales were 16 million in the region in 2009, and should  reach 35 million by 2018.

This follows the May 2010 launch of the subcompact Ford Figo in India , which sold more than 30,000 vehicles in 25 weeks.

The auto maker said on Thursday that it  is planning to export its recently introduced Figo small car from India to 50 new markets, including Mexico, North Africa and the Middle East, beginning next year.

Ford Shares rose more than 1% in morning trading.

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