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Figo has host of competitors

Wednesday, 10 March 2010

10 March 2010;dailypioneer.com:Rakesh Bihari Jha:New Delhi: Ford is betting big on Indian car market as the US car maker is developing some more products keeping in mind the specific needs of this market even as it entered small car market on Tuesday with its aggressively priced ‘Figo’. “Ford Figo’s launch is the first step in the series of vehicles being developed keeping in mind the specific needs of Indian market,” said Ford Asia Pacific and Africa president Joe Hinrichs, adding, “we are looking at expanding this segment and work has already begun to develop next generation platform named ‘B’.” The entry level Ford Figo of 1.2 litre petrol engine is priced at Rs 3,49, 900, while 1.4 litre diesel engine car priced at Rs 4,47, 900. With the launch of Figo compact car market in India has become crowed and more competitive, as a result, Ford’s product will be in close competition with Maruti’s Swift and Ritz, Hyundai’s i10, GM’s Beat and Polo of Volkswagen. Ford, which managed to sell just about 30,000 units in 2009, entered the small car market with Figo to be a volume player. Explaining the reason behind developing some more products for Indian car market Ford India Managing Director Michael Boneham said: “You need more entries into the small car segment. We will continue to focus on that segment and the company will launch new vehicles in every 12-18 months.” He, however, declined to give details on planned car launches. Talking about its small car Boneham said : “Come heat, come dust, come Monsoon rains or Delhi traffic, the Figo was born and bred for India.” "Given where the sub B segment has traditionally been in terms of content, space and price, we feel Figo will open new opportunities for consumers looking for a better choice," he added. Like other global auto majors, the company also hopes to turn India into a small car export hub. “Figo would first ship to South Africa and we’ll be adding more markets as people across the region see how cool the Figo really is,” added Boneham. The plant, which manufactures other Ford models for India, too, has a total car-making capacity of 200,000 units a year and an annual engine manufacturing capacity 250,000 units.