New Delhi, Mar 17: Ford India said its 'small car project' is still on amid global recession. Ford's small car is set to hit the market by early 2010.
Ford India's parent organisation in United States have posted a record net loss of $14.7 billion in 2008 globally. Last year it had announced half-a-billion dollar investment for India to double annual production capacity to 2 lakh units.
"The last six months have been tough for the auto industry... and we maintain a cautious outlook for the rest of 2009," Michael Boneham, MD and president of Ford India said adding that he expected a turnaround only by 2010. "And this will be the time when we bring in our small car. Thus, we are confident it will get a good response," he added. Ford 'small car' might face stiff competition from Tata Nano, Maruti Suzuki, Hyundai.
Currently Ford sells sedans like Ikon and Fiesta in India otherthan the SUV Endeavour.