Financial Daily from THE HINDU group of publications Thursday, Aug 26, 2004 |
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Announcements Marketing - New Products & Services Ford to launch Fusion in Dec India's first `crossover' car to cost between Rs 5 lakh - Rs 7 lakh Our Bureau
Mr David Friedman, Managing Director and President (right), and Mr Vinay Piparsania, Vice-President (marketing and sales), with the first `Ford Fusion' production prototype made in the Ford India plant near Chennai.
Bangalore , Aug. 25 FORD plans to launch India's first crossover car, Fusion, by early December. The Ford India Managing Director and President, Mr David Friedman, told newspersons on Wednesday that the company has combined elements from different pedigrees of vehicles to create India's first urban utility vehicle (UAV). The car is a crossover between a car and an multi utility vehicle (MUV). The car is expected to cost between Rs 5 lakh and Rs 7 lakh. Ford Fusion combines the elements of a hatchback, an SUV and a minivan. "It is the fusion of their attributes that inspired the vehicle's name," Mr Friedman said. The first prototype of the vehicle has already been completed. The official said the company will manufacture between 500 and 1,000 units of Fusion every month and then ramp up production depending on the demand. The Ford Vice-President for Marketing, Mr Vinay Piparsania, said the target customer for Fusion would be young urban families. Ford designers "cubed out" Fusion's body shape to create its taller, wider and longer occupant compartment. It can seat five adults and has fold-down rear seats, a flat load floor and an increased ride height. The car comes with a Duratec 1.6-lt, 16-valve petrol powertrain. The local content in the car is around 70 per cent. Ford is also evaluating the option of launching a diesel version. Ford Fusion, which made its debut in production form at the 2002 Geneva Auto Show, is already available in Europe; the car has been customised for Indian conditions. For example, modifications have been carried out to improve the cabin sealing to protect it from water entry during heavy monsoon. Ford's models in India include mid-sized Ikon, high-end Mondeo, which is sold in the country as a CBU, and sports utility vehicle Endeavour. Ford sold around 18,500 Ikons in 2003 and expects to sell 27,000 units by the end of 2004. It plans to export 24,000 units, the same as last year. The car major plans to cross the Rs 1,000-crore mark in revenues this year. Ford last week reduced prices of Ikon and unveiled a new line of the model at a base price of Rs 4.49 lakh (ex-showroom).
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