India's automotive market is just beginning to bloom, but Ford says it's already looking for a bigger piece of the pie. Launching in a matter of weeks is Ford's new Indian B-segment fighting Figo, a car Ford says targets 70 percent of the Indian market by blending style and functionality with strong value.
The partial result of Ford's $500 million investment in India, the Figo is larger than much of its competition, Ford says. With such practical elements as increased passenger and cargo capacity, as well as more flashy tech features that include Bluetooth and iPod connectivity, the Figo aims to become more than just basic personal transportation in a market where even that concept is a relatively new one. According to Ford, the automaker is seen as a premium automaker in India, commanding a small percentage of market share.
"When potential customers look at Figo, we want them to walk away surprised by what they see," said Nigel Wark, executive director of marketing, sales, and service for Ford India. "For years, we've been seen as offering only premium-priced products in India, and that has kept us as a small player operating in only 20 percent of the market. With Figo, customers will see a premium product offered to the mainstream market at an affordable price. "
Ford's ideal target Figo customer base is young professionals who are starting their careers and a family. The Figo, Ford says, offers enough room to take five people out for dinner while also providing a status symbol with which the owner can flaunt success - all for a price that is lower than expected.
Produced in Ford India's Chennai plant, the Figo will hit showrooms in India in three weeks.