Ford Motor will stop manufacturing in India and take a hit of about $2 billion as it does not see a path to profitability in the country, becoming the latest automaker to leave a major growth market dominated by Asian rivals.

The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit.

In its statement, Ford said it accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.