With the launch of 'Flair', the new variant of Ford Ikon, auto major Ford India entered the sub-Rs 500,000 mid-sized luxury car market.
"We have achieved localisation to 90 per cent from 70 per cent and the resultant savings would be passed on to the consumers," Ford India managing director and president David Friedman said after its India launch in Bangalore, considered the fastest growing market for luxury cars.
The ex-showroom price for the car in Bangalore is Rs 493,000 and Rs 495,000 in Delhi, Friedman told reporters.
The launch synchronises with the centenary year of the automobile giant.
The overall car market had grown 28 per cent in the first quarter (April to June) of this fiscal with sales of 164,000 units as against 128,000 units last year, he said.
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