The 48-year-old Bill Ford is scheduled to be in Delhi on October 24 and 25 for the formal launch of the new car. He is expected to meet not just Ford India's top executives, but some of Ford's dealers as well.

The Fiesta, a three-box sedan, is slated to bring in the much-needed volumes for Ford India. The new car will make its world debut with its launch in India. The Fiesta, with diesel and petrol versions, will be competitively priced to attain profitable sales volumes.

Ford is aiming to achieve a local content of 75 per cent at the very outset of production, which will give the firm sufficient leeway to price the car competitively.

The petrol engine and the gearbox will be locally produced, while the turbodiesel engine will be imported from Europe initially. The turbodiesel engine has been co-developed by Ford and Peugeot-Citroen of France.

The Fiesta, which has been through extensive evaluations across the country, took over two years to be ready. To give shape to the new Fiesta, Ford India had roped in product development teams from the UK, Germany and Australia.

Ford's current best-seller is the Ikon, which sells around 1,400 units a month, mainly because of its value-for-money editions like the Flair. Ford's other models include the Endeavour SUV, the Fusion hatchback and its luxury car, the Mondeo.