Wednesday, September 23, 2009

Ford to Step into Indian Market with Figo Small Hatchback Car

American car maker Ford is planning to join some other major players to make its mark in Indian car market with a small car named Figo. In Italian, Figo means ‘cool’. Well, there is no doubt, Indian car market is pretty much lucrative for the car makers as it has seen excellent growth over the last few years. Small car segment of Indian market is more lucrative because of India’s price sensitive customers. It is true that the growth has been lowered over the last couple of years because of economic recession, but still it has huge potential for the car makers. Indian car maker Tata introduced its much-hyped Nano small car which costs around 1 lakh ruppe. The car has received huge response too.

Ford has not revealed detailed specifications of Figo yet, but it is expected that the features of the hatchback car will be out in the media when Ford will commercially introduce the car next year.

There is no doubt, India has a very potential car market because of it large middle class family. So, it is quite natural that companies like Ford seek to gain a considerable amount of market share.

Related article:

Wall Street Journal