Ford's introduction of the Figo hatchback to the Indian market has driven company sales to levels never seen before. Riding on the success of the recently introduced Figo, Ford's sales in India have skyrocketed to 32,755 units through the first half of this year. Compare that with just 13,897 units sold in the first six months of last year.
The Figo hatchback accounts for a significant chunk of Ford's overall sales in India. At 25,000 units sold in just 100 days, the Figo is currently Ford's best shot at stealing sales away from the low-cost, competitive vehicles that have flooded the Indian market. The Figo's success can be largely attributed to its high fuel-efficiency ratings of 36.6 miles per gallon (U.S.) combined for the gasoline version and 47 mpg combined for the diesel variant. The Figo's efficiency, coupled with its relatively low starting price of $7,500 (U.S., at the current exchange rate) has provided Ford with a winning product in India's burgeoning B-segment. Follow the jump to learn more about Ford's recent sales surge.
FORD FIGO REACHES 25,000 SALES BOOKING MILESTONE IN CLOSE TO 100 DAYS
* With more 25,000 sales bookings registered in close to 100 days, Figo is cementing its reputation as one of India's most in-demand new cars
* Ford Figo has transformed Ford India's sales performance – helped drive a sales volume of 235% compared to year-on-year first half sales
* Ford Figo a hit with target customers nationwide in Tier I, II and III markets
MUMBAI, India, July 15, 2010 - With more than 25,000 sales bookings registered since its launch in March, the Ford Figo has cemented its reputation as one of India's most in demand new cars.
"Reaching the 25,000 sales booking milestone in close to 100 days continues the Figo's remarkable rise and rise in popularity among Indian consumers," said Michael Boneham, president and managing director, Ford India.
"Figo's success has exceeded expectations in terms of sales and target markets. Our debut compact car offering is being very well received by a wide range of customers and this response has been instrumental in our efforts to increase market share."
Targeting more than 70 percent of the country's prospective new vehicle buyers, the popular Figo has helped drive growth in all markets (Tier I, II and III) across India.
In the January-June period, Ford sales volume, on a year-to-year basis, doubled in Tier 1 markets including Mumbai (234%); Chennai (279%) and Delhi and the NCR region (223%). In terms of regional sales, there was a similar response - east (339%); west (277%), north (212%) and south (127%).
Big gains – double, and in some cases, triple fold growth - were registered in Tier II markets such as Chandigarh, Ahmedabad, Pune, Kochi, Coimbatore, Indore, Bhopal and Jaipur and Tier III markets such as Dehradun, Trichy, Nashik, Aurangabad and Kanpur.
In addition to strong internal demand, Ford India has also recently celebrated it first export order of 1,200 Ford Figos to Ford Motor Company in South Africa.
Overall, the Figo has helped Ford India record more than double the volumes of 235% year-on-year in half year sales, selling a total of 32,755 vehicles compared to 13,897 units last year.
Based on the number of queries recorded by dealers nationwide and showroom visitors, the second half of the year looks equally promising.
The Figo campaign is supported by a range of Ford India-led service and sales programmes that includes:
* Ongoing development of the dealership network. There are currently 167 dealership outlets across 97 cities nationwide
* Ongoing expansion of the after-sales service network nationwide
* Consistently updating and enhancing the cost of ownership programme – for example, Figo is a market leader in terms of scheduled service over a 5 year/100,000 kilometre period. Other offerings include the Total Maintenance Plan (TMP) and Scheduled Service Plan (SSP) that allows customers to purchase extended service plans for regular maintenance items for up to 100,000 kilometres or five years, at reduced rates.
¹ The Tier system categorizes Indian cities based on size and economic factors. Tier I is made up of major metro areas and the capitals of affluent states such as New Delhi, Bangalore, Mumbai, Hyderabad, Pune and Kolkata. Tier II comprises less-affluent state capitals and smaller cities with substantial industrial development, such as Guwahati, Coimbatore, Vadodara, Calicut, Bhopal and Kanpur. Tier III cities are capitals of underdeveloped states and district headquarters that are considered administration hubs, such as Haldwani, Malappuram, Dhanbad, Durgapur and Mehsana.
About Ford India
Established in 1995, Ford India is a wholly owned subsidiary of Ford Motor Company, a global automotive industry leader. Ford India manufactures and distributes automobiles and engines made at its modern integrated manufacturing facilities at Maraimalai Nagar, near Chennai. With close to 4,000 employees, the company's models include the Ikon, Endeavour, Fiesta and the Figo. For more information, visit www.india.ford.com