New Delhi: Ford on Thursday announced it will stop making cars in India and shut down its two factories.
The dealership community is extremely concerned and Federation of Automobile Dealers Associations (FADA) has expressed shock, according to a report in Team-BHP.
Ford has 170 dealers and 391 outlets in India. The total amount of investment by dealers is reported to be Rs 2,000 crore and they employ around 40,000 people.
Ford India has 4,000 employees on its payroll.
There are around 1,000 vehicles in stock with dealers. This equates to around Rs 150 crore.
Anurag Mehrotra, President & MD, Ford India, has reportedly assured that Ford will adequately compensate its dealers.
Also Read: Ford Decides To Shut Manufacturing In India; Will Resale Be Affected?
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