American car maker Ford's Indian subsidiary, Ford India Private Limited, had a roller coaster ride despite entering the market in early 2000. Though only a handful of models like the Ikon, first generation Figo and EcoSport tasted success in India, the company still holds only under 5 percent market share.
In addition to the imminent EcoSport facelift launch, the company is also working on a premium hatchback, reports Autocar India. The company is reportedly working on a new platform codenamed B563 for India and other emerging markets. The first model to be rolled out from the platform will be a premium hatchback followed by a mid size sedan.
The premium hatchback will be slotted above Figo in Indian portfolio and it will go up against the likes of Hyundai Elite i20 and Maruti Suzuki Baleno. The mid size sedan, on the other hand, will be pitted against the Honda City.
"The Fiesta (B299 platform) was essentially a car made for Europe and the cost structure was too high for India and that made it unviable. The B563 platform allows us to be far more cost efficient which is the key to competitive pricing in India," the publication quoted a Ford official on condition of anonymity.
Though the works on the premium hatchback are underway, it will not see the light of the day before 2020. Ford reportedly wants the car to be future ready and compliant to regulations beyond 2023. The car may also get a new family of Ford engines due in 2019.
Second time lucky?
This is not the first time Ford is planning a premium hatchback for India. The company had previously worked on such a model christened as B500 programme. However, Ford shelved the project in 2016 citing disappointing sales of mainstream models in the world's fastest growing car markets like India and China.
Source: Autocar
