Eyeing a stronger foothold in the Indian market, Ford, on Wednesday, launched its compact sedan Figo Aspire, which is priced aggressively between Rs.4.90 lakh and Rs.8.24 lakh.
The petrol version of Figo Aspire two variants, powered by 1.2 litre and 1.5 litre engines, available at a price range of Rs.4.90 lakh and Rs.7.80 lakh. The diesel option has a 1.5 litre engine and is priced in the range of Rs.5.90 lakh and Rs.8.24 lakh.
The launch is expected to further heat up the competition is the fast growing compact sedan segment. Figo Aspire, which will come in both petrol and diesel variants, will compete with existing models such as Maruti Suzuki Dzire, Hyundai Xcent, Honda Amaze and Tata Motors Zest – all of which are priced in the range of Rs.5.03 lakh to Rs.8.21 lakh. (All prices ex-showroom Delhi).
“The year 2015 is the year of next stage of growth for Ford in India. We plan to launch new products in next six months to strengthen foothold in the market,” Ford India President and Managing Director Nigel Harris said.
The US-based automaker, which sells products such as Figo, Classic and Ecosport in India, has struggled to compete and has a market share of about 3 per cent in the passenger vehicle market. Last fiscal, the company sold 75,000 cars.
Mr. Harris said, “Products at the end of the cycle lose appeal. So many Indians are first time buyers and they want the latest...We launched Figo Aspire today and before the festive season we will launch our Figo hatch and early next year all new Endeavor.” The company will also export the Figo Aspire. It aims to triple exports from India over the next five years with its new $1 billion plant at Sanand becoming operational.
“Products like Figo Aspire will come out of our Sanand facility not only for the Indian market but also for other markets. That plant is going to be an export hub,” he added. At present, Ford India exports 60,000 to 70,000 units annually to over 35 countries from its Chennai facility.
