Indian-made Figo will now be widely exported. Local content is 85%

Indian-made Figo will now be widely exported. Local content is 85%

Ford has said it will start exporting its top selling Figo [an updated previous generation Fiesta] from India to Mexico and over 50 other countries as it strives to make the South Asian nation an export hub.

Ford, like global rivals, is aiming to make India a launch pad for small car exports, seeing the country's low cost base as a chance to grow in a segment expected to account for 60% of global car sales within a decade, Reuters noted.

The Figo "will be shipped to various international markets, including Mexico, Middle East, North Africa and Caribbean markets this year," Ford India president Michael Boneham told the news agency in New Delhi.

The first shipment of 1,500 Figos, which have 85% Indian content, will go to Mexico next week, Boneham said.

Ford plans eight new car model launches in India market by mid-decade with the current generation Fiesta to be introduced as a 'premium' model this year.

Industry data showed local car sales hit a monthly record of 189,000 vehicles in February, up 23% year on year, boosted by the introduction of small cars such as the Figo and Toyota's Etios.

Ford has said it expects 70% of its growth to come from Asia-Pacific and Africa in the next decade.