Ford Figo to compete with i10 and Swift

Carmaker Ford has said that it is set to transform from a niche player to a volume player in the Indian passenger car market with the production of its new small car Figo at its Maraimalai Nagar car plant near Chennai. The company also signaled its intention to address the fast-growing small car market in India with more than one models.

“This is our first product in the compact car segment, marking our entry into the volume segment. In the next 12-18 months, we will come out with a new model,” Michael Boneham, president and managing director, Ford India said. However, he declined to say whether the new model would be in the same segment or not. But he indicated that there is a scope to add more models in the small car segment and new launches of Ford could focus on the volume segment.

Ford India’s new engine facility that quadruples the capacity of engines from 60,000 units to 250,000 units a year and new vehicle production line that doubles the capacity to 200,000 units annually were formally inaugurated on Friday by Tamil Nadu chief minister M Karunanidhi and deputy chief minister M K Stalin. Production of new Figo also commenced at the plant, which embarked on $500 million engine-cum-vehicle expansion two years ago as part of Ford’s small car strategy for Asia and Africa.

Figo, which will be Ford’s sixth car model for the Indian customers, will be placed in ‘sub-B’ category and be positioned against Hyundai’s i10, Maruti’s Swift and the likes. Boneham said the price for Figo would be announced during launch but indicated that it would be competitive, as the new small car will come with about 85 per cent local content initially.

Figo will also be exported to overseas markets such as South Africa and the exports are set to commence by middle of 2010. The new Figo will be fitted with its new 1.2 L Duratec petro engine developed exclusively for the Indian market. The diesel version will have Duratorq 1.4L diesel engine.

Ford is also making Maraimalai Nagar operations as a hub for powertrain manufacturing and sourcing. “Ford India will export engines to South Africa and Asean regions,” said Raj Nair, vice president – operations of Ford’s Asia Pacific and African regions. Ford India has achieved 60 per cent and 80 per cent localization levels for petrol and diesel engines.

———————————

Source: Financial Chronicle 5/2/2010

Related posts:

1. Ford launches global small car ‘Figo’ priced at Rs 3.5-4.48 lakh US carmaker Ford launched its much anticipated global small car ‘Figo’ in the Indian market, priced at Rs 3.5 lakh...
2. Ford sells 16,000 Figos in 14 weeks Twelve years since its entry into India, the 100% subsidiary of American car maker Ford Motor seems to have finally...
3. Ford to invest $500 mn in India by 2010 Ford India Pvt. Ltd, a wholly-owned subsidiary of global auto major Ford Motors Co., will invest $500 million to set...
4. Swift becomes fastest selling car model in India Country’s largest carmaker Maruti Suzuki’s runaway success with ‘Swift’ has crossed a new milestone in sales – two lakh units...
5. Ford India opens 28 new dealer facilities in a single day Even as it is gearing up to make a foray into the compact car segment with the imminent public launch...