Ford India to enter small car segment

By SiliconIndia   |   Tuesday, 03 September 2002, 07:00 Hrs
Printer Print Email Email
Ford Motor India Ltd, known for Ikon brand in India's mid-sized car market, on Tuesday indicated that the company might enter the small car segment by next year.

NEW DELHI: David Friedman was quoted as saying by a news agency that by next year the company might diversify into other promising segments, primarily the small car segment.

The company was currently studying the option of entering the small car market, as it was the biggest, with a scope for growth, he added.

''Though already there are many cars in the segment, we plan to enter with new features which would give us a competitive edge over others,'' reports news agencies quoting Friedman.

However, he refused to confirm whether it would be the B-segment while adding that it had the maximum opportunities.

Ford India has estimated the share for B-segment cars to reach up to 69 per cent in 2003 and 70 per cent in 2005 from the 56 per cent in 1999.

In the B-segment, Hyundai Santro, Maruti Zen, Fiat Palio, Tata Indica and Daewoo Matiz are doing extremely good.

Ford yesterday launched a new 1.6 litre petrol engine model, Ford Ikon EXi, taking to seven the variants under its brand, with an eye on a larger share of the mid-size C-segment.

Ford India was the first subsidiary of a multinational car manufacturer in India to launch a car designed specifically for India.

Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..