Ford Motor Co made its entry into India’s lucrative small car market, launching the Figo at price points that offer strong competition to products already launched by rivals General Motors Co, Volkswagen AG and Hyundai Motor Co Ltd. The Figo makes its global debut in India, signalling the country’s growing importance to international automakers, who expect to ride on strong local demand for compact hatchbacks to make up for slower sales in developed markets.
A line up of global automobile majors – Nissan Motor Co Ltd, Renault SA, Toyota Motor Corp and Honda Motor Co Ltd – are slated to launch small cars in India in 2010 and 2011.
(Source: The Wall Street Journal Online)