Ford Figo, Figo Aspire production halved following weak demand
Ford India has reduced production for the new Ford Figo and Ford Figo Aspire as sales have declined. CNBC TV18 report claims that sales have declined by 60% for the Figo and 74% for the Figo Aspire today, as compared to when the respective car was launched in India.
Ford India had earlier targetted monthly production of 20,000 units (Figo + Aspire). But low demand pushed the company to reduce production to 10,800 units. Current production is even lower at just 6,800 units a month.
Ford India plant in Sanand, built at an investment of USD 1 billion is also been working in a single shift. In March, the company had to shut down production operations at this plant for a week.
Ford India is also noting decreased sales where its best-selling model, Ford EcoSport is concerned. Ford EcoSport has been facing keen competition from the recently launched Maruti Suzuki Brezza to the extent that Ford India has reduced prices to compete with the Brezza on a common footing. Post price reduction, Ford EcoSport managed to post its highest monthly sales in last 16 months.
Ford India expected to commence exports of the Figo from Sanand plant to markets across Europe by early 2016. This too has been delayed for unknown reasons. For now, the Sanand plant exports to Mexico, South Africa, and the Middle East. Full report in the CNBC TV18 video below.