Ford India, the Indian unit of the US based leading car maker Ford Motors, is planning to price its India portfolio cars more competitively in the Indian auto market. The move will be taken to compete more promptly against the intensifying competition.
While speaking on the company’s plans over reducing the price of their portfolio cars in India, Nigel E Wark, executive director (marketing & sales), Ford India said: "There is scope for reviewing our product prices as local market dynamics are changing so fast. While we continue to go strong on the Figo hatchback, prices of other products need to be rationalized in tune with new launches in the market and increased competition."
In the first 10 months of this financial year, Ford India registered a decline of 4% to 75,604 units as compared to the 9 percent growth of the overall passenger car segment in the same period. Since its launch in the month of July 2011, the all new Ford Fiesta sedan has been witnessing sluggish sales due to its high starting price tag of Rs 8.25 lakh (ex-showroom Delhi), much higher as compared to the price tag of Honda City, Hyundai Verna and Volkswagen Vento.
