Bad news for those planning to buy a Figo. Prices of Ford’s bestselling hatchback have been hiked by 1% from this month onwards. The new prices start at Rs 3.59 lakh for the petrol variant and Rs 5.48 lakh for the diesel variant.
Ford India President and Managing Director Michael Boneham made the announcement at during the unveiling the new Fiesta today in New Delhi. Boneham is quoted by The Times of India as saying, “We did a small price increase of 1% on Figo at the beginning of this month.”
He added that there has been a continuous cost pressure on Ford’s products due to rising input expenses. Further, he hinted that Ford may also increase the prices of other car models in the near future.
Ford India Executive Director (Marketing, Sales and Service) Nigel E Wark said, “The industry is estimated to grow around 15% this fiscal and we think we can do better than that.” He refused to comment when asked if the company is mulling over a second production plant in Gujarat and saying Ford still has capacity at Chennai.
Figo has single-handedly lifted Ford’s sales in the Indian car market. Ford India registered a sales growth of 184% last year with total sales of 83, 887 units as against a paltry 29,488 units sold in 2009. In fact, the company’s sales jumped three folds compared with last year’s figures.
There are reports that Ford will likely launch the 1.6-litre version of the Figo this year. Once launched, the Figo 1.6 petrol will lock horns with the Volkswagen Polo 1.6 and Skoda Fabia 1.6. The Figo 1.2 is known for its value-for-money pricing. Hence, expect Ford to price the Figo 1.6 also competitively, perhaps, around the Rs. 5.5 lakh range.
It must be noted that Ford is already manufacturing a Figo 1.6-litre mated to an automatic transmission for the Middle East market and hence, it might just plonk in a 5-speed manual transmission and sell it in India.
Ford’s latest product is the new Fiesta that was unveiled at a press conference in New Delhi today. While unveiling the car, Boneham said, “The new Fiesta will be a segment-leading product in India with intuitive first-in-class smart features and fuel economy that raises the bar in every way.”
Ford did not reveal details regarding the car’s engines, fuel efficiency or pricing. However, the DWS Auto team was present at the launch function and managed to take a quick peek under the hood to spot a 1.6-litre TDCi diesel engine. There will also be a petrol version that will be powered by a 1.6-litre, TiVCT engine.
On April 7, Ford had also launched the Fiesta Classic – a striped-down version of the earlier Fiesta priced at Rs 5.49 lakh – Rs 6.89 lakh. The new Fiesta looks markedly improved and modern, loaded with convenience features and gadgetry, compared to the Fiesta Classic. Upon launch, the new Fiesta will take on the likes of the Honda City, Maruti Suzuki SX4 and the Fiat Linea T-Jet. Read more: NewFord Fiesta Unveiled