After benefiting from reviews on this site , here is my contribution for the benefit of others.
I bought Ford IKON Flair in June 2007. I had shortlisted on two cars according to my budget constraint of 5-5.5 lacs. Esteem and Flair. Esteem I didnt took for it has this dieing brand feel, its not so admirable looks and the height of the car. Otherwise in performance I heard its better than this one. It has a better mileage and 85 bhp.
Flair has its own pros and cons. Buts its definitely the best bargain as compared to its peers. It has a very good suspension and control. In city mileage is 12 kmpl and on highway it could go upto 15-16 kmpl. Which I found satisfactory. The best part I like is its pickup. Biege interiors are incomparable. It gives you a luxurios feel. Drive is very comfortable.
I was disappointed with its powersteering and noise. Noise inside cabin is not that much that it will bug you but its more as compared to other vehicles. Space inside has been compromised a bit.
So overall it’s the best value for your money.