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Ford reports 75% jump in India sales

Ford reports 75% jump in India sales

Ford Motor has registered a sharp jump in its vehicle sales in India since the beginning of this year.

New York: Global car major Ford Motor has registered a sharp jump in its vehicle sales in India since the beginning of this year.

Ford's robust sales growth performance in India comes amid a sharp plunge in the company's overall second-quarter sales from the year-ago levels.

The company, in a regulatory filing with the US Securities Exchange Commission, on Thursday said it has witnessed "continued strong year-to-date sales growth in major international markets, including a 100 per cent increase in China, and a 75 per cent increase in India."

The company's worldwide operations reported a net loss of $123 million for the quarter ended June 30, as against a net income of $946 million in the corresponding quarter last year.

Ford's Q2 total sales and revenue dropped to $42 billion in the latest quarter, down $2.5 billion from the year ago period, reflecting a weak performance particularly in the company's domestic US market.

The company's chairman and CEO Bill Ford said the company witnessed an improvement in its North America results in the second quarter, but the external factors the company was facing were not going to get any easier.

In the second quarter, Ford's North America automotive operations reported a pre-tax loss of $797 million, compared with a pre-tax loss of $907 million a year ago. Sales were $19.2 billion, down from $19.9 billion for the same period a year ago.

first published:July 20, 2006, 20:06 IST