Ford enters compact sedan mkt with Figo Aspire

Ford has expanded its product range with the launch of Figo Aspire, its first compact sedan, pricing the entry level model aggressively to compete with Maruti Suzuki’s Dzire, Hyundai’s Xcent and Honda’s Amaze.

Available in petrol and diesel variant, the 1.2-litre engine petrol variant is priced at Rs 4.9 lakh (ex showroom, Delhi) while the 1.5-litre engine variant is priced at Rs 7.8 lakh. The 1.5-litre engine diesel variant is priced from Rs 5.9 lakh to Rs 8.24 lakh. Aspire offers features such as six air bags and speed limiter that are first in the compact sedan segment.

“The year 2015 is the year of next stage of growth for Ford in India. We plan to launch three products in next six months starting with the Figo Aspire,” Ford India president Nigel Harris said. Ford plans to launch a new Figo hatchback to replace the current Figo before the festive season and a new Endeavour early next year.

The compact sedan segment is abuzz with activity and companies compete fiercely in pricing and features. About 30,000 units of compact sedans are sold a month.

"Products like Figo Aspire will come out of our Sanand facility not only for the Indian market but also for other global markets. That plant is going to be an export hub," Harris said.

At present, Ford India exports around 60,000 to 70,000 units annually to over 35 global markets from its Chennai- based facility. With its new Sanand factory getting operational, the company is eyeing a total of 50 export markets.