Under pressure from various new launches, American car maker Ford India has cut prices of its two products Ford Figo by Rs 50,000 and Ford Aspire by Rs 91,000, respectively. Ford India is the eighth largest player in the domestic passenger vehicle market with a market share of about 3%. Ford India said in a statement, “The new prices are applicable with immediate effect.”
Ford Figo and Ford Aspire both car have been launched in last year 2015 in India. On March, 2016 the company Ford India had trimmed prices of its SUV EcoSport by up to Rs 1,12,300 and after three days the company Maruti Suzuki launched its first compact SUV Brezza.
Anurag Mehrotra, Executive Director of Ford India said, “With the realignment of prices, Ford Figo and Aspire are even more compelling for customers. The realignment also enhances the accessibility of these outstanding products, which offer segment-first safety features and class-leading technologies.”
Two top company Maruti Suzuki and Hyundai have announced price hikes of up to Rs 20,000 across their products.
Now Ford Aspire’s Titanium (+) will be available at Rs 6,80,150 (ex-showroom Delhi, Petrol) as compared to earlier price of Rs 7,45,150 and Rs 7,89,850 (ex-showroom Delhi, Diesel) as compared to earlier price of Rs 8,54,850.
The compact sedan segment has been witnessing decline in sales with 17% in the January to June time period, while the hatchback segment was down marginally by 1% during the January to June time period.