Ford (NYSE:F) Moving 4,000 Figo's This Month

With demand growing for the Figo, Ford India (NYSE:F) said their current backlog of 4,000 units will be moved within a month from its Chennai factory.

Since the small automobile was launched in March 2010, the company has received 25,000 orders for units. These 4,000 are the last of those orders to be cleared.

Ford India President and Managing Director Michael Boneham said, "Reaching the 25,000 sales booking milestone in close to 100 days continues the Figo's remarkable rise in popularity among Indian consumers."

Ford India will start a second shift at the plant in response to the surprising popularity, along with hiring another 1,000 workers by the end of 2010.

Other cars they compete with in the segment are Volkswagen's Polo, Maruti Swift, and Hyundai i20.