When it comes to the most successful car companies at present, many friends may think of Tesla. Tesla is not only the leader of the global new energy vehicle market, but also the world's first car company with a market value of more than one trillion US dollars. As of the close of trading on Jan. 15, Tesla's latest market capitalization was $1.05 trillion. It can be said that in most of the global auto markets, Tesla is very popular with consumers.
But surprisingly, Tesla has encountered difficulties in entering the Indian auto market. As early as 2019, Tesla planned to sell cars in India, but because the import tariffs between the two sides have never been negotiated, Tesla has not been able to successfully enter the Indian auto market so far. Recently, Tesla founder Musk also said: "Tesla wants to enter the Indian car market, still faces many problems."
In fact, Tesla is not the only car company that "falls on the head" in the Indian auto market. For example, another well-known automobile company in the United States, Ford Motor, has also suffered in the Indian market in recent years.
According to relevant data, in the past decade, Ford's losses in the Indian auto market have reached $2 billion. Even if it is a loss of money, Ford's development in the Indian auto market has not been smooth. After so many years, it has only occupied less than 2% of the local auto market, which can be described as "a failure".
Based on this, Ford finally made the decision to withdraw from the Indian market last year. In September last year, Ford closed its only two auto plants in India and began to "run away".
It is reported that Ford spent about $2 billion on plans to withdraw from the Indian auto market. In other words, Ford has been developing in the Indian auto market for ten years, and it has not gained benefits, and it is equivalent to a loss of about $4 billion.
However, as far as the actual situation is concerned, after the withdrawal from the Indian market, perhaps because of the loss of a large "burden", Ford's overall development situation has improved significantly, and the stock price and market value of the division have risen significantly.
According to the latest report on January 14, Ford's market value has recently exceeded the 100 billion US dollar mark. It is worth mentioning that this is the first time that Ford has completed this feat in nearly 120 years.
While Ford's market value has risen sharply, the increase in stock price has become more obvious. According to relevant statistics, in the past year, Ford's stock price has risen by a staggering 137%, which is the highest share price increase among all U.S. car companies.
Although Ford's current market capitalization is only about 10% of Tesla's, in terms of stock price increases, Ford has completed its surpass of Tesla, and Tesla's stock price has risen by 50% in the past year.
In summary, it can be said that Ford Motor is now on the "fast track" of development. So, is it all thanks to Ford's withdrawal from the Indian auto market? In fact, the reason why Ford's current development is so gratifying is that the company's new CEO Jim Farley is also indispensable.
Why? Since Jim took over as CEO of Ford, in just two years, Ford's stock price has risen by more than 200%. The person who made the decision to withdraw from the Indian auto market is also Jim.
In addition, under the leadership of Jim, Ford Motor has also increased its emphasis on the new energy vehicle business. In the past two years, Ford Motor has also seen the emergence of a number of more popular electric models, which may also be one of the main reasons for the change in the development of Ford Motor.
Whether you want to admit it or not, new energy vehicles are the absolute mainstream of the current global automotive market. Veteran auto giants such as Ford, while developing traditional automobile business, strengthening the research and development of new energy vehicles is the right way to develop!
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