Following the successful launch of its entry-level hatchback Figo in March this year, Ford India is looking to give a facelift to its existing models ? Fiesta, Endeavour and Ikon ? to create a foothold in the passenger car market.
In an exclusive interaction with FE, the company?s president and CEO, Michael Boneham, said the auto major has worked out a new strategy to be more aggressive in the country. It will also upgrade the existing models. ?We have the Fiesta, Ikon and Endeavour, (and) there will be some further improvements on those vehicles depending upon returns and the opportunities,? he said.
Boneham said that on the backdrop of the successful launch of Figo, the company would be launching a new car by 2011. Though he did not wish to reveal specific details, he said that it would be from an entirely new global platform.
He said that the strategy would be to launch a new car every 12-18 months, and it would not be restricted to any segment. ?We would look at every segment and where it is appropriate for us, we would launch our global platforms. We have capacity of about 250,000 engines as of now,? he said.
Post the slowdown in the west, iconic auto companies General Motors and Ford Corporation have stepped up investments in the emerging markets like China and India. Boneham said at present, currently India?s share in the company?s overall revenues is less than 1%. However, the rapid growth that the sector witnessed in the last one year has opened a world of opportunities for Ford.
?Alan Mullaly has been here (in India) twice in six months. It shows how important India is to Ford Motor. Mature markets have stabilized here,? he said.
Carmakers, in a bid to penetrate the small car market, which accounts for over 70% of the passenger car market in India, are adopting various methods to brave the cut throat competition in this segment.