Ford launches Figo Aspire price starting at Rs 4.9 lakh

Ford India on Wednesday launched Figo Aspire priced between Rs 4.90 lakh and Rs 8.24 lakh (ex-showroom price Delhi) to take on the likes of Maruti Suzuki, Hyundai and Honda in the fast growing compact sedan segment. The Figo Aspire will be available in both petrol and diesel engine options. The petrol option has two variants, powered by 1.2 litre and 1.5 litre engines, available at a price range of Rs 4.90 lakh and Rs 7.80 lakh.

While, the diesel option has a 1.5 litre engine and is tagged at a price range of Rs 5.90 lakh and Rs 8.24 lakh (all prices ex-showroom Delhi). "The year 2015 is the year of next stage of growth for Ford in India. We plan to launch three new products in next six months starting with the Figo Aspire today," Ford India President and Managing Director Nigel Harris told reporters here.

He said the Figo Aspire has been developed keeping the requirements of Indian customers in mind such as good design, high fuel efficiency and value for money while meeting Ford's global standards. With its pricing, Figo Aspire has started a price war against the likes of Maruti Suzuki's Dzire, Hyundai's Xcent, Honda's Amaze and Tata Motors' Zest which are priced at a range of Rs 5.03 lakh to Rs 8.21 lakh. The segment is witnessing a fierce competition in the Indian market and accounts for nearly 30,000-35,000 cars each month.

After the Figo Aspire, Harris said Ford India will launch the Figo hatch around the festival season, to be followed by an all new version of SUV Endeavour later in the year or early next year. With sales of 1.1 million vehicles in 2014, compact cars' share was 45 percent in India's auto market in 2014. Ford expects the segment to grow to around 1.6 million units by 2018.