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Wednesday September 23, 03:50 PM
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Ford to produce small car in India from early 2010
NEW DELHI (Reuters) - Ford Motor Co will launch production of its Figo small car in India in early 2010, it said in a statement on Wednesday.
The car was showcased at a news conference in the Indian capital.
Ford has invested $500 million at a plant in Chennai and has said the plant was gearing up for production of a small car.
India's domestic auto market is relatively small, especially considering a population of more than 1.1 billion, with about 1.5 million passenger vehicles being sold last year and small cars account of nearly two-thirds of annual unit sales.
(Reporting by Devidutta Tripathy)
(For more news on Reuters Money click http://www.reutersmoney.in)
