EXECUTIVE SUMMARY:•The short term goal of the proposal is to attain 3000 units of Electric cars sales in the current fiscal year•The long term goal is to increase Ford’s market share in terms of both volume and sales.•It is proposed to increase the company’s expenditures on EV division as it is the emerging market and govt. policies are in favor•The target segment for the marketing campaign are upper middle class income people whose income lies between 9L-15L•The major issue here is to bring in a affordable electric car.•The main theme of the marketing plan is to emphasize on low fuel costs associated with EV than the petrol/diesel cars•Electric cars are one time investment with low fuel costs whereas conventional cars incur higher fuel costs•By promoting EV, the import of crude oil can be significantly reduced. Thereby, it can reduce the crude oil’s contribution to balance of payment to a certain extent which is more beneficial for economy . This could be our main promotion campaign.
CURRENT MARKETING SITUATION:•Market size: The Indian electric car market size is projected to reach $707.4 million by 2025, witnessing a CAGR of 34.5% during the forecast period from 2019-2020.•Based on the technology, the Indian electric car market has been categorized into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). BEV category holds the largest share in the Indian market, contributing over 70% sales volume.•The overall penetration in the electric four-wheeler segment is currently 2%. With the right macroeconomic environment, it could go up to 5% in 2025.