Ford unveils Indian-built Figo, foresees return to profitability

Ford Motor Co. (F) is on a roll. The lone U.S. car company not to have taken a government bailout, Ford said Wednesday it foresees a return to profitability within two years, as it unveiled an inexpensive compact car to be made in India. (Autoblog has a gallery of the new car here.)

The Figo, which apparently is Italian slang for "cool," will go on sale in India beginning early next year, Ford officials said during a press conference in Delhi. There are also plans to export the four-door hatchback to other nations in Asia. Though Ford didn't disclose retail prices, it is expected the Figo will sell for about $6,000 to $8,000.