| Identifying the country as one of the fastest growing markets in Asia, Ford said that no investment will be spared to make the company a success here. |
| The Fiesta is scheduled for nation-wide launch in mid-November with retail sales (delivery) set to begin in December. |
| "India is on the top in the list of growing markets," Ford said. Without committing specific numbers on the quantum of investments Ford Motor would make in India, he said the global car major was sitting on a cash pile of over $24 billion. |
| Availability of funds would not be a constraint for investment in India, he said. "The Fiesta would be the latest but not the last (model)," he assured. |
| While admitting that Ford in the country was yet to see big numbers in terms of sales volumes, he said the new model would help the company increase the volumes. Despite over a decade's presence here, Ford India's market share is less than four per cent in this million-odd passenger vehicle market. |
| The Dura-tech based Ford Fiesta would be available in both petrol (1.6 litre) and diesel (1.4 litre) versions. Though the price of this new sedan is yet to be revealed, it is expected to take on Honda City, the largest selling sedan in the country. The City (after the recent re-launch) with the VTech engine is retailed in the range of Rs 6.72 lakh and Rs 7.99 lakh (ex-showroom Delhi). |
| While the Ford Ikon, launched in 1999, has been the chief volume gainer, with around 2000 units sales a month, the Ford Ikon is expected to exceed this. Though Ikon is an entry level sedan, the increasing competition for premium hatchbacks from Suzuki (Swift) and Hyundai (Getz), has of late been eating into this segment. |
| "Premium hatches offer more features for the same engine capacity of a entry level sedan. The volumes in the sedan market in the coming months and years will come from the mid-size segment which currently dominated by Honda City and Hyundai Accent," said a market analyst. |
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