The car, which will compete with the likes of Maruti Suzuki's Swift, Hyundai i20 Elite, Honda Brio, will be available in both petrol and diesel engine options.
While the petrol variant is priced between Rs 4.29 lakh and Rs 6.91 lakh, the diesel option is tagged between Rs 5.29 lakh and Rs 7.4 lakh (all prices ex-showroom, Delhi).
The petrol and diesel engines deliver fuel economy of 18.16 km per litre and 25.83 km per litre, respectively, the company said.
Commenting on the launch, Ford India President and Managing Director Nigel Harris said, "Built on Ford's latest global platform, the all-new Figo is an able and worthy successor to one of Ford's most well-known and trusted nameplates in India."
He said the new Figo is built to appeal to the Indian consumers who don’t want to compromise on looks, practicality, safety, cutting-edge technology and above all, exceptional fuel efficiency.
Ford India said the all-new Figo comes equipped with standard driver airbag across all trims.