Let's be honest here: we're car nuts. And as car nuts, we're more interested in the high-performance stuff than the budget hatchbacks. So when Ford announces a new car, our fingers are collectively crossed here at CarBuzz HQ that it'll be something like a Mustang or an F-150 Raptor. But of course not every car a global automotive giant debuts can be a gas-guzzler or there wouldn't be enough gas left for those of us who really appreciate every last drop. And so we have the new Ford Figo.

A budget hatchback made in India, the Figo sells for a paltry 384,999 rupees (about $7,200) and is powered by four-cylinder engines burning either gasoline or diesel, both generating about 70 horsepower. It's only been on the market (specifically developing ones) for a couple of years now, but Ford evidently saw it fit to give the Figo a little update. Most apparent is the styling revision applied to the new Figo, similar to what Ford recently did with the Fiesta, to bring it in line with the company's Kinetic design language. Practically speaking, that translates into new headlamps and taillights, a hexagonal front grille and a revised interior for the Figo.

Optimized engines also offer better performance, better insulation yields a quieter cabin, new seats mean more comfort and upgraded equipment brings more features. We could bore you with the specifics, but all you really need to know is that the Figo is a highly awarded car in the Indian market and is sold in 34 others around the world, including Mexico and South Africa where it is marketed as the Ikon Hatchback. So the next time Ford takes on an exciting but money-losing project like the 2003 Ford GT supercar or taking control of Aston Martin as it did in the early 90s, you'll know where it's making it up the deficit on its balance sheet.