Okay folks, it is official now. Price range for Figo, the first compact car from Ford Motors, has been officially announced.

Ford Figo will be available in two engine variants, 1.2l Durateq petrol and 1.4l Duratorq diesel. The petrol engine has a mileage of 15.6 kilometres per litre and diesel engine has a fuel efficiency of 20 kilometres per litre.

Price for the petrol engine variant starts at Rs 3.5 lakh, the diesel one is priced at Rs 4.48 lakh. Both engine variants will have a 5-speed manual gearbox.

Ford Figo, which will compete with the likes Maruti Suzuki Ritz, Hyundai i20, has been priced very competitively and is a sure to become popular among the small car loving Indians.

The car looks totally cool – both from inside and outside. Low-set grille, sloping roofline and edgy side panels give its exterior a look that makes it easily (and in a better way) different than its competitors. The interior look of Figo is based on two themes – ebony black and coral red. Based on a 2498mm wheelbase, the interiors are quite spacious. Figo has a seating capacity of five adults and a rear boot that that has 284.0 litres of space.

The equipment section of Figo has been planned carefully. Figo is equipped with a Bluetooth Phone Interface, an MP3 player, a radio and 4 speakers.

Safety features in Ford Figo include dual front airbags and Anti-lock Braking System with EBD which enhances car handling. Apart from that, Figo features intelligent central locking, engine immobilizer (PATS) and a 3 point seatbelts for front and rear seats. It has a Rapid Deceleration Warning system that, at speeds greater than 96 kmph, activates the hazard warning lamps and warns trailing drivers about the sudden brakes.

With South Africa serving as the initial target, Ford will be exporting the Figo from India to various markets across the globe.

To appeal to the different colour preferences of people, Figo has been made available in seven shades: Diamond white, Panther black, Moondust silver, Chill, Sea grey, Squeeze and Colorado red.