Ford has once again banked on the alphabet ‘F’ – this time they call it Figo. But will the Figo brand really be a game-changer for this Detroit giant in India?
The ‘F’ word is critical to Ford. And they make no qualms about it at all. In the world of cars and history of automobiles, if there were to be straws drawn on which car qualifies to be an American icon, there’d be too many who would vouch for the pretty impish lot called the F-Series. The series (of Ford’s full-size pickup trucks) has sold more than 32 million units worldwide since its launch in 1948 (just behind Toyota Corolla, which has sold more than 36 million units in its 44 years journey). But where the F-Series shrivels up the competition is the fact that in the US markets, the F-Series has been the best selling vehicle for 23 smashing consecutive years including the year gone by, with a fantastic share of Ford’s profits coming from the inimitable series.
Inexplicably still, the F-Series is not sold by Ford in India! Or in China! And this despite these two markets being two of the most promising automobile markets across the globe. But however head scratching that move (or lack of it) might be – or might not be, given the per capita dynamics – what Ford is trying to pull off now in India could well define a historic moment of its existence in the subcontinent. And that is the introduction of Figo! The hatchback from Ford’s stable is expected to hit the Indian roads sometime in March this year. With the launch of Figo, Ford is finally making its debut in the A2 segment, through which they are targetting a significant pie (the small car segment constitutes about 70% of the Indian car market). But it’s not as if this wasn’t expected.
The Figo had been showcased in New Delhi in September 2009. And industry watchers surely expect the competition in the A2 segment to get more intense with the launch of not only Figo but also Volkswagen Polo in March this year, adding to the sparks created by General Motors’ Beat that was launched in December 2009. And industry analysts expect the market leader Maruti Suzuki to lose noticeable market share from the segment (though Shanshank Srivastava, CGM-Marketing, Maruti Suzuki India did tell 4Ps B&M, “2010 will be a tough year for Maruti Suzuki. As the competition in the small car market will increase, the company is expected to lose some market share in that category. But it will not be substantial.”)
It’s certainly a news in favour of Ford India, but then one should not forget that players like Toyota and Honda are also all set with their plans for the small car market in the country which make the road all the bumpier for this automotive giant in India. This certainly puts a lot of burden on Figo’s shoulders as far as Ford’s exposure in India is concerned. But Michael Boneham, President & MD, Ford India seems pretty confident when he tells 4Ps B&M. “Figo is a very important product and we expect it to chart a new success story for the company in the Indian market.”
The ‘F’ word is critical to Ford. And they make no qualms about it at all. In the world of cars and history of automobiles, if there were to be straws drawn on which car qualifies to be an American icon, there’d be too many who would vouch for the pretty impish lot called the F-Series. The series (of Ford’s full-size pickup trucks) has sold more than 32 million units worldwide since its launch in 1948 (just behind Toyota Corolla, which has sold more than 36 million units in its 44 years journey). But where the F-Series shrivels up the competition is the fact that in the US markets, the F-Series has been the best selling vehicle for 23 smashing consecutive years including the year gone by, with a fantastic share of Ford’s profits coming from the inimitable series.
Inexplicably still, the F-Series is not sold by Ford in India! Or in China! And this despite these two markets being two of the most promising automobile markets across the globe. But however head scratching that move (or lack of it) might be – or might not be, given the per capita dynamics – what Ford is trying to pull off now in India could well define a historic moment of its existence in the subcontinent. And that is the introduction of Figo! The hatchback from Ford’s stable is expected to hit the Indian roads sometime in March this year. With the launch of Figo, Ford is finally making its debut in the A2 segment, through which they are targetting a significant pie (the small car segment constitutes about 70% of the Indian car market). But it’s not as if this wasn’t expected.
The Figo had been showcased in New Delhi in September 2009. And industry watchers surely expect the competition in the A2 segment to get more intense with the launch of not only Figo but also Volkswagen Polo in March this year, adding to the sparks created by General Motors’ Beat that was launched in December 2009. And industry analysts expect the market leader Maruti Suzuki to lose noticeable market share from the segment (though Shanshank Srivastava, CGM-Marketing, Maruti Suzuki India did tell 4Ps B&M, “2010 will be a tough year for Maruti Suzuki. As the competition in the small car market will increase, the company is expected to lose some market share in that category. But it will not be substantial.”)
It’s certainly a news in favour of Ford India, but then one should not forget that players like Toyota and Honda are also all set with their plans for the small car market in the country which make the road all the bumpier for this automotive giant in India. This certainly puts a lot of burden on Figo’s shoulders as far as Ford’s exposure in India is concerned. But Michael Boneham, President & MD, Ford India seems pretty confident when he tells 4Ps B&M. “Figo is a very important product and we expect it to chart a new success story for the company in the Indian market.”
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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