Ford Motor Company, the American automobile manufacturer has unveiled an all-new global car based on the Ka Concept. The compact hatchback is aiming to target growing markets like India and China. According to sources, the company is expecting to sell around 6.2 million units by the end of 2017. In the Ford's portfolio history, the Ka Concept is the first entry-level vehicle in the sub-B compact segment and is the cheapest one till now, sources have claimed.
The presence of the Executive Chairman of Ford Motors, Bill Ford, was seen at the Camacari plant in Brazil, during the showcasing of the five-passenger Ka Concept. However, reports say that this new vehicle would be first introduced in Brazil, which is the fourth biggest automobile market in world.
Bill Ford made a statement, "Ford has a long history in Brazil, bringing development, jobs and growth to the region. As an integral part of our global growth strategy, we are committed to bringing world-class products to Brazil and to helping the region create global vehicles for the rest of the world."
In light of the event, Joe Hinrichs, who heads the operations for Ford in South and North America, was quoted as saying, "These vehicles really are important to us globally to move into areas of the business where we have historically not had good share, not made money. If you're going to grow, especially in the growing emerging markets around the world, you need to have this entry-level family car."
However, the price of the Ka Concept is still under point of discussion for Ford, according to reports. It is being said that the existing Ka sold in Brazil is priced between 10000 dollars and 12000 dollars as against Fiesta's price range, which falls between 17000 dollars to 26000 dollars. According to Ford Motor Company officials, the all-new global Ka will compete against the likes of Fiat Uno, Chevrolet Onix and Volkswagen Polo. Unlike the old version, the facelift version of Ka Concept has a docking station, instead of a touch screen. With this new feature in the current version, the driver can put in the smart phone, thereby navigating the other things.
The US-based car maker is expecting the global sales of entry-level small cars to grow by 35 per cent in 2012 to 2017 time period. With this demand, Ford expects the small car segment to outpace the presumed overall 12 per cent rise in the industry. Also to mention, it has predicted that nearly 44 per cent demand of the market share for small cars will come from South Asian and South American markets.
It must be noted that Ka compact vehicle is the smallest and affordable Ford vehicle that will get a global overhaul. The car would be competing in the 'sub-B' segment as called by the company. However, the car maker has not had a decent run in the small car segment wherein major car companies have intensified the competition over the years.
