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Ford Motor Co will launch a new car model in India every 12-15 months over the next five years, with its new Figo small car is set to drive a tripling of sales in 2010, its India head said on Tuesday.
The No 2 US automaker by sales plans to use India as a global manufacturing hub for compact cars, eyeing the country’s low-cost facilities to grow in a segment that it expects will make up 60 percent of all global car sales in 10 years.
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Ford Figo to compete with maruti’s A-Star, Hyundai’s Santro Xing.
Ford India finally unveiled its small car, Figo, for the domestic market. The Figo, which means ‘cool’ in Italian, has been built on a new platform.
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US auto major Ford is now training its sights on India to offset tough business conditions in other global markets. The lone American automobile company that survived the downturn without a government bailout, Ford Motor is planning to integrate car designs globally and develop compact and mid-sized cars as part of a strategy to improve profitability and productivity.
Officials close to the development said Ford is focusing on economies of scale and implementing ‘one Ford’ strategy across markets. Alan Mulally, president and CEO of Ford Motor, is also making a lightning visit to India to showcase its small car in the middle of this week. Mr Mulally, who took over the reigns of Ford in 2006, divested marque brands Jaguar, Land Rover and Aston Martin before the collapse of the global markets.
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US-based carmaker Ford on Friday said it will launch its new small car during the first half of next year and was planning to start exporting the product by the end of 2010.
The company said the sub-B segment car would be made to meet the statutory requirements of having an engine capacity of 1.2 litre petrol engine and 1.5 litre diesel engine.
“Our planned small car will be launched in India in by early 2010. We also plan to export it to markets in Asia Pacific and Africa by the end of next year,” Ford India President and Managing Director Michael Boneham said on the sidelines of the Annual Siam Convention in New Delhi.
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