Ford Motor Company's new model Ford Figo, the sub-B category car will hit the Indian roads before the end of March 2010.

Figo is the sixth new model of the company that is going to be introduced by the US automaker in India. Figo's launch will trigger the competition in the compact car segment that generates 70% of country's total new car sales currently. Mr. M Karunanihdi flagged off the new Figo at the company's Maraimalainagar facility near Chennai last week. The price of the car is not revealed by the company.

"It's price will be very competitive. We will compete with i10 and Swift and others, as we are targeting the segment which accounts for 70% of all new vehicles sold in India," said Michael Boneham, Ford India president and MD.

Ford India is trying to enhance its production capacity. The company plans to raise its productions capacity by 200% to make it to 250000 engines a year. Nearly 90% of the $500 million investment by Ford has been completed though there are still some parts to be added in the new 40000sq m flexible engine plant.

"Incremental investments would be made as and when necessary," said Raj Nair, Ford vice-president operation.