Ford signals a big no to Tata Nano rival
Every car manufacturer seems to be drifting away from ultra low cost car souk that is won over by the world’s cheapest car Tata Nano. The latest one shying away is Ford Motors that has recently made an official announcement to set up another manufacturing facility just near the Tata Nano plant in Gujarat. However, Ford is currently focusing on the small car segment of the Indian Auto Market, but it has said a big no to the ultra small car such as Tata Nano. Primary reason behind the denial could be the recent shift of buying preference towards more fancy and costly cars in India.
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As per reports, the president of Ford Motors India, Mr. Michael Boneham has said that over half of the consumers, who bought Ford Figo are the first timers. And Ford Figo comes under the premium hatchback segment. So it is seems that people are inclined towards more fancy and premium cars. The president of Ford Asia pacific and Africa, Mr. Joseph R Hinricks has reportedly said that Ford India is now not planning to build a car in the price range of $3000 to $3500 which is around Rs. 2 Lakh but it has no plan to go below this.
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However, it is well-known fact that Tata Nano did not achieve the figures that it was expected to. Therefore, Ford Motors India is not planning to go for ultra low cost small car. Ford Motors India is basically known for safety and superb safety dynamics. And Ford India now wishes to make its brand value stronger in India.
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Ford Motors is the third auto maker in India that dropped ultra low cost car project. The first two were General Motors and Renault-Nissan. General Motors earlier had plans to launch a much smaller car than Chevrolet Spark, but it has also said to have dropped the plan to do so. Ford Motors has some strong products in the Indian Auto Market that have tasted the flavor of success. These products include Ford Fiesta Classic, the new Ford Fiesta, Ford Figo, Ford Endeavour and Ford Ikon.
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