Ford has made its intentions clear that it will use its Indian manufacturing unit as an export hub. The American-based automobile manufacturer launched its Figo hatchback and Figo Aspire compact sedan models in India. Both models have been highly appreciated by customers.
Unfortunately, dwindling demand for the hatchback and compact sedan has directly caused a reduction in production. Ford India has reduced production of both models by almost half. Currently, average production per month of both models is 6,500 units a month.
Reports suggest that Ford has significantly reduced production at its facility in Sanand. Figo hatchback witnesses a manufacturing reduction by approximately 60 percent. The Figo Aspire, on the other hand, experiences a decline in production by almost 74 percent.
Previously, Ford India had plans to export its all-new Figo hatchback. Their goal was to export the model to the European market, however, Ford has not commenced this operation so far. Export of Ford's Figo hatchback could have also been a result of the reduction in production.
The Ford Figo hatchback has tough competition in the Indian market. Hyundai Grand i10 and Maruti Suzuki Swift are Ford Figo's biggest rivals. The Figo Aspire, on the other hand, has to compete with Honda Amaze, Maruti Swift Dzire, and Hyundai Xcent in the compact sedan segment.