Ford unveils new global compact SUV EcoSport

Ford Motor Co today unveiled the EcoSport, its new global compact sports utility vehicle, and said it plans to invest $142 million in the company's Chennai plant in south India to manufacture the model for the domestic and export markets.

The EcoSport is the second of eight new global models that the company plans to launch in India, according to its statement. Analysts say it is targeting Asian and African markets as it pushes to boost annual global sales to 8 million vehicles by 2015.

Ford, which sold only around 100,000 cars in India in 2011, which was only 15 per cent more than the previous year, said it expected Asian sales volumes to double to account to contribute to make up a third of the carmaker's global sales by 2020.

"The Indian market will be the third largest by the end of the decade behind the U.S. and China," Joe Hinrichs, group vice-president and Asia Pacific and Africa president told reporters.

"We are still bullish on India and we expect significant growth as per capita income rises in tier-II and -III cities."

The vehicle is powered by a new one-litre, three-cylinder petrol engine with turbo charger and direct injection and according to the company it would match the performance of a 1.6-litre engine.