Ford Motors to launch new economy hatchback in India

September 23, 2009

(ChattahBox) — Ford Motor Co., the only major US automaker to avoid bankruptcy, will launch production of its Figo small car in India in early 2010, it said in a statement on Wednesday.  The four-door hatchback will be produced at Ford India’s factory in the port city of Chennai, and sold in India and exported to international markets.  Ford is investing $500 million to turn the plant at Chennai into a regional center for small-car production, the company said. Ford said the Figo – which is colloquial Italian for “cool” – will be available in 2010, and is expected to sell for under $10,000.  Suzuki Motor Corp. controls about 53% of the car market in India with its seven compacts.

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