Ford Figo witnesses slowdown in sales due to rising interest rates

Since the month of January 2011, Ford Figo sales have been tumbling down. In the time period of January to March, Ford India managed to sell around 8,400 Ford Figos per month, but in the time frame of April to June, sales literally went dwon to 5,700 Ford Figos per month. This tumbling of sale was around 32%, which is a worry sign for Ford India.

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It is being said that the sales in April to June are the lowest so far; however, it could be a seasonal drop. But, other players of the Indian car market are doing pretty well, which include Hyundai i20 and Maruti Swift. On one hand Swift did saw a drop down of 4.5 % in April to June whereas Hyundai i20 sales rose to 11.5% in the same time period.

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Therefore, it could be said that Ford Figo’s drop in sales could be possible because of some other reason. And this reason could be the interest rates. In this week, Ford made an announcement of cutting the interest rates by 0.25% and 50% on the dispensation fee for car loans via HDFC. Another announcement was made regarding the monsoon camp for Ford Figo owners, that will offer discounts up to 50% or so on few parts along with absolutely free of cost car washes. The cut down in the rate of interest could help in boosting up the sales figures of Ford Figo.

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However, Ford Figo is surely loaded with high end extra features, which include, electric mirrors, Bluetooth, airbags and ABS. The Ford Figo titanium petrol version will cost you around Rs. 4.65 Lakh, whereas the Maruti Swift ZXi has a price tag of Rs. 5.4 Lakh. And in spite of such a high price, Maruti Swift managed to sell around 10,900 cars per month.

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However, even consumers are now shifting from petrol models to diesel variants. Even Ford Figo consumers are now getting inclined towards the diesel version of the car. But when it comes to actual buying, people lean towards Hyundai i20 and Maruti Swift as the mileage provided by Ford Figo petrol is around 15 km per litre, where as Maruti Swift gives 17.9 km per litre. But the Ford Figo diesel variant gives a mileage of 20 km per litre.However, one can hope that Ford India’s monsoon scheme would help Ford to regain its sales status. However, Ford India’s most popular car models include, Ford Fiesta, Ford Ikon, Ford Escort, Ford Fusion and Ford Endeavour.

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