Ford launches new Figo at Rs. 3.85 lakh

Ford India, which launched a variant of its popular small car Figo, said it expects the sagging car demand to get a boost during the forthcoming festive season.

"It's a competitive market. Due to high inflation consumer sentiment is down. We will start to see a turnaround hopefully with the festive season," Ford India president and managing director Michael Boneham said.

"We will be seeing a lot of sales, I hope. The order book is looking quite encouraging," he added.

With the new Figo, priced at Rs. 3,84,999 for the petrol, and Rs. 4,81,999 for diesel (ex-showroom Delhi), the company said that it will stop production of the old Figo. The car maker had reported 8.29 per cent decline in sales in September at 9,418 units.

Stating that growth has been flat in the recent past, he said: "Remember we are all used to the massive growth two-and-half-years ago, we had growth of 30 per cent year-on-year. That is not sustainable. I think a 10-15 per cent growth is what we need to see. We are looking at the long-term. We are confident that by 2020, this will be our third largest market," he said.

He further said Figo sales are likely to improve with better macroeconomic environment and claimed that year after year the Figo sales have been growing by 10 per cent. On the new plant in Gujarat, where the company has invested about $1 billion to build a new manufacturing and engine plant, he said: "We are on track with construction. I went there two weeks ago and was very pleased. We are going to have 3,000 people on site. The first vehicle and engine are scheduled to come in 2014."

Ford currently exports to 35 countries from its Chennai facility, and is also looking at 15 new markets for exports.

"We are looking at the North African hub and the other developing markets for exports now," he said.

Ford Plans 8 New Models to Drive Sales in Growing Indian Market

Ford Motor Company will launch eight new vehicles in India by the middle of the decade as its plan to rapidly expand its presence in the fast growing market. Joe Hinrichs, president of Ford Asia Pacific and Africa (APA), made the announcement today during a keynote speech titled ‘Managing Growth – Evolving Market Dynamics’ at the Society of Indian Automobile Manufacturers (SIAM) Conference in New Delhi.

“We have big plans for India and for this region,” Hinrichs said. “As we have seen from the spectacular early success of the Ford Figo, more and more Indian consumers appreciate the fuel efficient, economical, high quality, safe, and fun-to-drive vehicles that Ford offers. By the middle of this decade we will introduce eight new vehicles to India from our global platforms, in segments appropriate for this market. This is part of our ‘better plan’ to bring more and more vehicles from our vast global portfolio to India and other markets in Asia Pacific and Africa.”

Hinrichs’ remarks at the SIAM conference focused on strategies for managing change, specifically the impact of rising demand and increasing capacity on the value chain. He elaborated saying that, “Introducing eight new vehicles by the middle of the decade is an ambitious plan that will have tremendous impact on our manufacturing operations, supply chain, dealers and employees. As part of our better plan for India, we are working today to make sure the value chain is ready for the demands we will place on it in the years to come.”

Expanding capacity creates particular challenges for suppliers, which are responsible for a large part of a vehicle, and requires new approaches. Hinrich further explained that by 2012, more than 70% of the vehicles sold under the Ford brand globally will be built off 15 core platforms. By bringing suppliers into the development process earlier we can ultimately generate more profit for the supply chain.

The Figo has already made its impression on the people in India and having already accumulated a fan following, this announcement will make Ford lovers jump with joy. With eight new cars lined up for launch in the next decade, all eyes will be on the bait that Ford India throws out to its customers.

Figo Drives New Sales Records For Ford

The all-new Ford Figo has received more than 10,000 orders less than one month after it went on sale, a new Ford India record. In response to the strong demand, Ford India will launch a second production shift at its plant in Chennai.

The Figo’s popularity helped Ford India’s overall March sales more than triple from the same month a year ago, rising an impressive 203 percent to 9,478 units. The exceptional March performance, which also included strong sales of Ford Ikon, Ford Fiesta, and Ford Endeavour, were nearly triple Ford India’s February sales, increasing 194 percent.

“We are delighted at the initial response to Figo, and are incredibly proud to have struck such a positive chord with Indian consumers,” said Michael Boneham, president and managing director of Ford India. “The launch of Figo is the start of a transformed Ford in India, and a true reflection of our commitment to delivering world-class products that allow Indian customers to feel the difference.”

Part of Ford’s US$500-million investment in India, Figo was designed and engineered with Indian customers in mind – including months of exhaustive customer clinic research and thorough testing in both simulated and actual road evaluations.

Aimed squarely at more than 70 percent of the country’s new vehicle market, Figo has significantly bolstered Ford’s competitive position. This has been one of the best launch response and volumes achieved in the first month of sale by manufacturers in India’s automotive history.

The Figo is one of the more than 20 new vehicles Ford is introducing globally in 2010. The new cars, trucks and SUVs, which offer class-leading fuel economy, quality, safety and technology, represent substantially more new or freshened product by volume than was introduced in 2009.

During the course of this journey, more than 900,000 people visited the Ford Figo homepage www.fordfigo.in to know more about the car and spent and average of over 8 minutes on the website. In addition, thousands of people joined Ford Figo communities across social networking sites like Facebook, Twitter.

“As we remain committed to redefining the Ford brand in India, we expect this momentum to continue,” said Boneham. “Factors such as the initial price of the car, fuel efficiency and cost of maintenance are critical in determining affordability for a new car buyer. Indian customers are confirming that Figo solidly delivers on all of these.”

With longer intervals of key maintenance components due to better durability, competitive cost of the parts and the short time required for vehicle servicing, Figo is placed among the leaders in scheduled service over a 5 year/100,000 kilometre period.

As part of ongoing efforts to demonstrate its competitive cost of ownership, Ford India recently announced the opening of 28 dealerships in India, bringing the total number of Ford outlets to 164 facilities in 97 cities. The company plans to expand to 200 facilities by the end of the year.