Ford India will be launching its much-awaited compact car, Figo on the 9th of Match in the Indian market. The company has been working on the small-car project since 2007 and after the global showcasing event that happened in September in New Delhi in the presence of Alan Mullaly, CEO, Ford motor Company; experts believe that the Figo will bring the desired high volumes for Ford India.

Ford entered into the Indian market in 1995 with its much-popular product Ford Escort but neither the product nor the company has been able to bank significant volumes from the Indian market in its 15 year long journey. Be it the Escort, Mondeo or the Fusion, all of the aforementioned products were unable to capture consumers' mindspace.

"We haven't been able to clock high volumes simply because of the fact that we weren't present in the segment where 70% of the cars are sold in the Indian market. But with the launch of Figo, we expect to grow rapidly in the Indian market," added Boneham.

The company has already invested $500 million to double the annual capacity of its Chennai plant to 200,000 vehicles and setting up a facility to make 250,000 engines annually primarily for the high demand that Figo is expected to bring to the door of this automaker.