New Delhi/Chennai, March 9 (IANS) The Indian arm of Ford Motor company Tuesday launched four variants of its small car Figo, priced aggressively to take on existing and emerging competition.
Ford has priced its entry level Figo petrol at Rs.3,50,000 and the diesel variant at Rs.4,48,000 which are cheaper than Hyundai Motors’ i10 and Maruti Suzuki’s Swift.
‘We have kept our promise and priced all four Ford Figo models very competitively to emphasise Ford’s commitment to this huge segment of the growing Indian automobile market,’ said Michael Boneham, president and managing director of Ford India, launching the model in Delhi.
‘Figo offers more features, interior space, technology and durability than other vehicles at this price in the segment,’ he added.
Four different Figo models – LXI, EXI, ZXI and Titanium – will be available with different trim levels and designed to suit a variety of consumer tastes. All models will also be available with a Duratorq diesel engine option.
As part of the initial pricing, all Figo models will be covered with Roadside Assistance for two years.
Ford claims the 1.2 litre Figo will offer 15.6 km per litre and the 1.4 litre Duratorq diesel engine model would give 20 km per litre. A five-speed manual transmission is standard equipment on both engines.
A Ford dealer said: ‘Figo is a price warrior. The petrol variant is cheaper than i10 and the diesel is cheaper than Swift’.
It is learnt that Ford is looking at a monthly sales of around 8,000 units which works out to 96,000 units a year – a number that Boneham does not want to confirm or deny.
Boneham denied that Figo is a price warrior. ‘Figo offers right value for the price. The cost of ownership is also low. In all it is a benchmark pricing for this segment,’ he told IANS.
Ford insists that Figo, a sub-B segment car, sports features that are available in B segment cars.
‘In India people look at three things in a car – shape, space and the price. Figo looks great and has a larger space than others in the segment as it is built on Fiesta platform,’ Sanjeev Shukla, general manager, marketing, told IANS.
Shukla said Ford will not use any celebrity brand ambassador to promote the car.
About expanding the sales network, Boneham said by the end of this year Ford would raise the number of dealerships to 200 from the current 167.
The company will also be shipping out Figo to South Africa and other countries sometime in the middle of this year.