Ford Figo will be priced competitively: Michael Boneham

Ford Figo Chennai: The highly-competitive small car space in the country is set to witness a pricing war as Ford begins to launch its new car Figo. The commercial production of Figo has begun and the new car is set to hit the Indian roads by the end of March.

Eighty five per cent of the new Figo is expected to be locally contented. This may enable the car manufacturer to price it in an attractive way in the Indian market.

Michael Boneham, President and Managing Director, Ford India, says: " Figo will be priced competitively. The car has been adapted to meet the requirements of Indian customers."

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"Bank financing is supportive. This will boost the sales of Figo," he adds.

Nearly 10 years after setting up the facility in the country, Ford is entering the small car space hitherto dominated by players such as Hyundai and Maruti. Recently, Chevrolet launched its small car Beat at an incredible price of Rs 3.35 lakh and the car has clocked more than 10,000 bookings in less than 24 days. With the entry of Figo in the cluttered small car space, customers have wide choices of cars to choose from various price points.

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"We are confident that the new Ford Figo will be extremely attractive to Indian buyers. Its' going to be very competitive with the current market leaders and will offer a tremendous value story for our consumers. The car is set to transform Ford from a niche player in India to vehicle for the masses," says Raj Nair, Vice-President (Operations), Asia-Pacific & Africa, Ford.

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Ford Figo is the company's sixth offering in the Indian market after its flagship models such as Ikon, Endeavour and Fiesta.