Figo is Italian for “cool” and Ford launched its cool car in India on Wednesday in Delhi. It is the first small car from Ford in India that currently holds fifth rank in Indian auto market. Ford Figo is a strategic step from Ford to increase its market share in India. "The Figo is designed to compete in India's small car segment, which accounts for more than 70 percent of the market," said Ford's global president and chief executive Alan Mulally, who unveiled the car at a function in Delhi.

Ford’s Chennai manufacturing unit is currently undergoing $500 million upgrade and the new small car will be manufactured here only. It will hit the Indian market sometime in early 2010. It shares its technology with Ford Fiesta and is based on small-car platform.

Ford did not reveal its price or technical details at the launch ceremony. More details about the car will be available only when the car goes into production and is ready to hit the Indian roads. But, a Ford official was quoted, as saying "We don't have plans to compete in the A segment or sub-B segment right now," which could provide a hint as to the positioning of the Figo. At the same time, according to Ford India top honcho, Michael Boneham, "It's going to be very competitive with the current market leader and will offer a tremendous value for our consumers." Ford intends to launch Figo to generate volume sales in India, and also for exports of the car. It currently sells Ikon, Fiesta, Fusion and Endeavour in India.

Courtesy: www.cartradeindia.com