Almost a month ago, Ford announced that it is stopping manufacture of vehicles for sale in India immediately on account of accumulated operating losses of more than $2 billion (Rs. 14,802 crore) over the past 10 years. But what does it mean for Ford cars that are already in the market and showrooms? Is it a good time to buy them?
Pre-owned car observers believe that it might be actually an opportune time to buy used Ford cars, especially the best sellers like the EcoSport and Endeavour. Ford dealerships are not closing down in a hurry and with the company assuring to continue full customer support, it could be time for some bargain hunting.
While it is a no brainer that it won’t be a seller’s market, used car buyers may be able to swing in an attractive deal. In a situation where used car prices have seen a significant jump in the past 6-8 months, Ford cars taking a hit in the value may spring forth as lucrative and affordable options for those shopping within a strict budget.
The other key concern for those going for pre-owned cars is the quality of service and availability of parts. Along with the fact that Ford is looking to continue to address requirements of vehicles with service, aftermarket parts and warranty coverage, the American automaker also said it will continue to maintain parts depots in Chennai, Delhi, Kolkata, Mumbai and Sanand (Gujrat). So as of now, this does not seem like a very big worry at the moment.
Nonetheless, pre-owned car buyers need to make an informed choice. A discounted price does not mean that they would buy just about any vehicle. As logic dictates, models that did not do well like Fusion and Mondeo are not in the reckoning. But the likes of Endeavour and EcoSport are the ones that you must be look for. Given the recent consumer preference trends, SUVs and compact SUVs are also among the top preferred models and give consumers an opportunity to stay with the current market trend without burning a huge hole in their pocket.