Ford to soon launch diesel variant of Fusion

NEW DELHI: Ford India on Wednesday said it will launch a diesel variant of its mid-size vehicle Ford Fusion by the third quarter of this fiscal.

"The diesel variant, to be launched by the third quarter of this year, will enable us to have a robust diesel portfolio," Ford India President and Managing Director Arvind Mathew said.

Mathew also said that increasing interest rates could soften demand for vehicles, which may lead it to revise its yearly sales target.

He said in April and May, there was softening of demand due to a variety of factors including rising interest rates, which tightened monetary supply, and appreciation of rupee.

"We are keeping a tab as to how the sales pan out in June and July," he said.

If the soft demand continued, the company would have to revise its sales growth target, he said.

Last year, Ford India achieved a growth of 45 per cent at 41,797 units as against 28,840 units in the previous year.

The company on Wednesday launched a new version of its sports utility vehicle Ford Endeavour priced between Rs 14.7 lakh and Rs 15.62 lakh (ex showroom Delhi).

The company is betting on the new vehicle, powered by a 2.5 litre diesel engine, to enhance its share in the premium SUV market where it commands a 38 per cent share.