Ford Motor Company has begun working on the low-cost small car for the markets to India, China, Eastern Europe and South America. The car will be priced a little above Rs 3 Lakh. This is one of the company’s low-cost cars for the global market.
"We plan to grow business in B (small) cars globally, and especially in the Asia-Pacific region where we plan to raise the share of B cars to our line-up from 15% to 45%," said John G Parker, Ford's group executive VP for Asia-Pacific and Africa.
Parker also remarked that this new car would be different to the small car that Ford would be launching in India in 2010. "But linkages would certainly be there. We are looking at integrated product development system at Ford now," he said.
Parker said the company's new small car was on course and would be out by 2010, with localisation of over 80. "It will the first offering from Ford in the mass-market segment and we are making efforts to keep it cost-competitive and a great value proposition," he said.
He also said that Ford will have a multi-product strategy in the small car segment and that Ford has plans to have more than one car there. "We cannot be satisfied with just one product in this crucial segment. India is a big car market and we can't just meet the demand with just one product in small cars," he said.
The company is investing around $500 million fresh money in India for building small car and engine manufacturing capacity.