Summary Box: Ford's $1 billion India factory

AP News
Posted: Mar 22, 2012 2:25 PM
Summary Box: Ford's $1 billion India factory

INDIA EXPANSION: Ford Motor Co. laid the cornerstone for a new $1 billion factory in India on Thursday, pressing ahead with expansion plans despite an uncertain outlook for Asia's No. 3 economy.

SPEED BUMPS? The expansion comes amid slowing car sales in India. During the fiscal year ending in March, car sales have crept up just 0.3 percent, compared with the previous year's 29.5 percent surge.

SMOOTHER ROAD AHEAD: Ford plans to launch eight new vehicles in India by the middle of the decade. Analysts predict India's growth will bounce back as the economy grows and interest rates fall.