Latest Car News in India

Ford India unable to keep up the sales as Ford Figo loses its customers

Ford Figo, one of the most prominent cars from Ford India in the Indian Auto market has recently seen a decline in sales owing to higher interest rates and increasing fuel prices.

The company is planning to launch new Ford Fiesta to cope up with the sales and uplift the lowering sales.

Currently, Ford Figo is facing major competition from Hyundai Motors and Maruti Suzuki, both dominating the market of mid sized cars.

Another factor for lowering the sales is the hike in interest rates by RBI, which has incremented the interest rates almost 10 times then in 2010.

Ford Motors had worked hard on the Ford Figo and had spent about 2 years steadily improving the car to make it more and more suitable for the Indian auto market.

Recently ford has some new challenges to face, with Hyundai launching its mid-segment car Hyundai Verna in 1.4L and 1.6L engines with the smaller engine delivering the fuel economy of 17.4 kmpl, which rivals neck to neck with the fuel economy of Ford Fiesta’ petrol variant which delivers a fuel economy on 17 kmpl.

Also, Honda has cut down the price of its premium sedan, Honda City by 8.1 percent bringing down the price to Rs. 7,49,00 which will prove as another problem for Ford.

To strengthen their position in the market, Ford has planned to launch a series of 8 new vehicles which will be rolled out in the Indian market by the end of 2015.