American car maker Ford on Tuesday entered the highly competitive Indian small car market with Figo, and gears up to introduce one product every 12-18 months across various segments.
Launching the global small car Figo at Rs 3.5-4.48 lakh, the company announced plans to take on the likes of Maruti Swift, Hyundai i20, and the newly launched Polo from Volkswagen. The Indian small car market accounts for over 70 per cent of the 1.22 million units cars sold. Currently, Maruti Suzuki leads the Indian car market.
“You need more entries into the small car segment. We’ll continue to focus on that segment,” said Ford India Managing Director Michael Boneham.