Ford is introducing a low-cost compact car for the Indian market early next year to take on the Tata Nano.
Although Ford did not disclose the price of the 4-door Figo, Italian slang for cool, analysts expect it to retail between $6,000 to $8,000, which is substantially higher than the Nano, which is priced at $2,500 for the basic model and $5,000 at the top-end.
Michael Boneham, president of Ford India, said, “This new car will be a game changer. It will give us muscle in the heart of the Indian market.”
Presently Ford has only under 2 percent of the Indian market, which is dominated by Maruti Suzuki, Hyundai and Tata Motors
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