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Well known car manufacturer, Ford has increased production at its plant near Chennai plantfrom 1 to 1.40 lakh cars per annum. The managing director suggested that the move had been made to cater to demands of people and clear the backlog of 6000-7000 car orders.
As such, a second shift has been started at the plant which has the capacity to produce almost 2 lakh cars. Waving all rumors of a possible price rise, Ford said that even though the prices of materials and parts has been mounting, it would not raise the price of Figo and keep it at Rs 3.5-4.8 lakhs.
As per reports from Ford, Figo has exceeded its expected sale numbers and helped increase the company's market share. The car earns 50% of its sale from Tier 1 cities while the rest from Tier 2 and 3 cities. Recently it is also being exported to South Africa.
