An updated version of Ford India's compact sedan Aspire has been launched at an introductory price range of Rs 5.55-8.49 lakh (ex-showroom). The price of petrol manual versions are tagged between Rs 5.55- 7.24 lakh and the automatic petrol variant is priced at Rs 8.49 lakh. The price of diesel trims ranges between Rs 6.45-8.14 lakh (all prices ex-showroom).
"With many segment best and industry first features new Ford Aspire ensures that every customer gets what they desire," Ford India President and Managing Director Anurag Mehrotra told reporters at the launch of the new Aspire variant in Delhi on Thursday.
The compact sedan segment is growing in India and is expected to touch 4.5 lakh units by the end of 2018, Mehrotra said, adding, "We will continue to grow faster than the industry".
The new car has the potential to "double by the end of the decade", and all the new products from the company's stable will start at a level of 85 per cent locally, Mehrotra said. He said that Ford India's domestic sales crossed the USD 1 billion mark in 2017-18 for the first time in its history. The company's export revenue in 2017-18 stood at USD 2.4 billion, he added.
On the sales growth during the current fiscal, Mehrotra said during January-August period, the domestic PV industry has grown 6 per cent while Ford grew 11 per cent.
The petrol variants of the new Aspire are powered by 1.2 litre engine while the automatic comes with a three cylinder 1.5 litre engine mated to a six-speed transmission. The diesel trims come with 1.5 litre powertrain that also powers its popular compact SUV EcoSport.
The compact sedan is being manufactured at the company Sanand plant in Gujarat, where it has invested over USD 2 billion.
(With inputs from agencies)