"I won't rule out the small car within the next one year but I will not confirm it", Fink said when asked for a definite time-frame for the roll out of the car.

An entry into the highly competitive segment is essential if one has to be a big player in the local passenger car market, Fink told reporters at preview of the company's new car the Ford Ikon. The car is set for launch late next month.

Estimated at a little under 100,000 units last year, analysts say the small-car market in the country will increase to 160,000 units in 1999-2000 and grow at a considerable 80 per cent per annum over the next few years.

Ford is not looking at bringing any built-up small car into the country, Fink said. "We will do what we did with the Ikon and design an exclusive car suited to Indian conditions and price preferences", he said.

The Rs 1700 crore Ford India plant atMaraimalai Nagar near Chennai is equipped to roll out 50,000 cars per annum with a few modifications it can accommodate the manufacture of 100,000 cars every year. The company will not need any major investments for the new car as the existing line can be modified to roll out the small car also, Fink said when asked if any fresh induction of money would be required for the new car.

The mid-sized Ford Ikon, slated for a formal launch towards the later part of November is the first car from the company designed by Ford's Small Vehicle Centre.