New Delhi: US carmaker Ford launched the new petrol and diesel variant of its entry-level sedan ‘Ikon’ in India, priced at Rs4.59 lakh and Rs5.19 lakh (ex-showroom), Delhi, respectively.

“The new Ford Ikon continues to be a leader in its segment and caters to customers with a combination of superior fuel efficiency and improved engine performance,” Ford India President Michael Boneham told reporters here.

The diesel variant of the new Ikon would come with a 1.4 litre DuraTorq TDCi engine, while the petrol variant would be available with a 1.3 litre RoCam engine.

About the ongoing global financial turmoil, Boneham said: “The current world economy is creating some tough times for car business as a total. Credit crunch and the lack of confidence among consumers and banks have created short-term impact.”

He, however, said that the company’s announced $500 million investment plan in India for the next few years would continue with a new engine plant and a car-manufacturing facility in Chennai.

“Ford is confident that we will be a big part here. Our capacity-enhancement programme and the small-car project will continue as announced earlier,” he said.

“The company would launch a new small car in India in 2010,” he added.