The Hindu : Friedman sees 20 p.c. growth in car industry

Online edition of India's National Newspaper
Saturday, Jan 24, 2004

Business

Business

Friedman sees 20 p.c. growth in car industry

By Our Special Correspondent

CHENNAI, JAN. 23. The Managing Director of Ford India, David Friedman, today indicated that a 20 per cent growth in the car industry during 2004 `is possible' if all right factors were in place.

Addressing a press conference here today after conferring the prestigious Q1 certification awards on 20 of its local suppliers, Mr. Friedman said the industry could post a healthy growth in 2003 as all factors conspired positively to drive it. He hoped the prognosis for the current calendar would remain favourable for the industry. He asserted that Ford India would grow faster than the industry.

Fielding a range of questions, the Managing Director said his company had already become cash flow positive. To a question, he said Ford India had ploughed back the money into the company. In this context, he said the investment on Ford Endeavour was through internal generation.

Mr. Friedman said Ford India would launch a new `Made in Chennai' model this year. He, however, would not wish to hazard any guess on the type of the proposed new model. To a query, he said the ability of its suppliers to provide quality and cost-effective components would form the fulcrum of its strategy vis-a-vis introduction of new models.

To a question on the free trade agreement pact with Thailand, he said the agreement should go a long way in providing not just the automobile makers but also component suppliers market access to ASEAN.

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