CHENNAI, INDIA - After managing to stay afloat amidst the economic meltdown while it's US based rivals sank into bankruptcy, Ford Motors is planning to take the Indian car market by storm by launching technologically advanced models with lucrative prices. The company is going to launch its much touted model named Figo in the Indian car market before the end of March this year. This model is a compact car and with it, Ford is trying to snatch a share of the market hitherto dominated by Maruti Suzuki, Hyundai Motors and Tata Motors.
The Ford Figo, when it is launched will lock horns with rivals like Maruti Suzuki Swift and Ritz, Hyundai i10 and i20 and Tata Indica Vista. The exact price of the model is yet to be decided by the company. However, it will not be priced steeply as Volkswagen Polo and Chevrolet Beat, two recently announced models have been placed at competitive price points. Ford has tasted success inthe Indian car market with its midsized sedans like Ikon and Fiesta earlier. However, it is yet to make an impact on the fast growing compact car segment. It is betting high on the Figo.
2010 is going to be a crucial year for the leading car companies in Asian car markets including India. The Ford Figo will intensify the competition in the small car segment. It will be made in the company's Chennai facility in south India. To make things easier for the buyers, Ford India has opened as many as 28 new dealerships all over the nation.
The Ford Figo, when it is launched will lock horns with rivals like Maruti Suzuki Swift and Ritz, Hyundai i10 and i20 and Tata Indica Vista. The exact price of the model is yet to be decided by the company. However, it will not be priced steeply as Volkswagen Polo and Chevrolet Beat, two recently announced models have been placed at competitive price points. Ford has tasted success inthe Indian car market with its midsized sedans like Ikon and Fiesta earlier. However, it is yet to make an impact on the fast growing compact car segment. It is betting high on the Figo.
2010 is going to be a crucial year for the leading car companies in Asian car markets including India. The Ford Figo will intensify the competition in the small car segment. It will be made in the company's Chennai facility in south India. To make things easier for the buyers, Ford India has opened as many as 28 new dealerships all over the nation.
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