Ford India President Arvind Mathew said that Tata Motors bid for the company’s leading brands — the Jaguar and Land Rover was ‘very interesting’.
Responding to a query on the sidelines of the launch of MRF Formula-1600 cars here last night he said, “It is very interesting. Whoever is the best candidate will get selected. Whoever gets selected ‘All the best to them’.” When asked how the deal would be from an Indian perspective, Mathew said, “This is the not the first foreign company that an Indian company has bid for.
Corus Steel has been bought out by an Indian company, Tata Tea has been bought out by an Indian company, the component industry has bought out a number of companies around the world. This just happens to be a well recognised brand.” He said Ford India’s growth this year was not to the level that the company had expected to do.
“The last three quarters in 2007 have been affected by the overall market, economy and interest rates. Ever since April, we have been fairly flat,” he said. The company began exporting to South Africa two months back and is exporting fully built up units of Ford Fiesta.
He said the company was looking at an export of about six to 10,000 units next year. He said the company’s Ford Endeavour was doing very well and there was capacity constrained for the vehicle.
“Every vehicle has been sold. So we will be breaking some bottlenecks to get some more volume out on that one,” he said.
“Right now we are doing 250-300 vehicles per month. Even that is tight. Dealers want more,” he added.