A Reuters report has it that Ford Motor Co will stop manufacturing cars in India and shut down its plants in the country.
Ford is set to become the latest automaker to quit a market still dominated by Asian rivals.
Reuters claims Ford made the decision because it was not profitable for it to continue.
The process is expected to take about a year to complete, the report added.
Ford follows U.S. companies such as General Motors and Harley Davidson out of India, a market that had once promised exponential growth.
Ford has struggled to win over India’s frugal buyers and turn a profit in a market dominated by mainly low-cost cars made by Suzuki Motor Corp and Hyundai Motor.
Ford will continue to sell some of its cars in India through imports of fully-built vehicles and knocked-down units, Reuters reported.
Ford entered India 25 years ago but has a less than 2% share of the passenger vehicles market in the world’s second most populous nation.
