8 Ford Figo siblings to be brought by Ford India

After 13 years, the US carmaker Ford has touched success in India with its first compact car, the Ford Figo. The company is now planning to come up with 8 new models in another five years for building on the success of this model-Figo which helped the company in tripling its sales in the past few months, stated Michael Boneham, president and managing director of Ford Motor India. The carmaker now intends substantial investments in India for emerging as a major player in coming years.

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According to Ford India, the company has discovered a formula for the Indian consumers and they have responded well to that. The company has also worked on the cost of ownership equation. Boneham said that Indians do not want a cheap vehicle but the one that provides value for money with the product’s life cycle. That is why the company designed a maintenance cost, fuel efficiency during the process of ownership experience. Such efforts lessened the cost by around two-thirds and this is the reason why the company is planning to come up with eight new cars by the mid-decade.

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Regarding the raised prices of the steel companies, Boneham commented that input costs are a concern and the company sees that some competitors have taken certain moves recently. Ford India is also making assessments every week. In terms of price positioning, Boneham said that they are very aggressive at present. He mentioned that not only the costs of the raw material but the transportation and other costs also go there into the building of the vehicle. The company is watching the market as well as the competition carefully. Regarding Ford’s growth strategy for India, Boneham said that in the eight new products, the company is going to cover those segments where they observe some important growth. The company will use its global platform strategy so that it becomes capable of supporting the Indian consumers.

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