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Ford Follows, GM, Hyundai, Hikes Prices In Jan
Ford India joins other carmakers such as Toyota, General Motors and Hyundai who have also announced price hikes up to 3 per cent effective from January. Ford India executive director (Marketing, Sales and Service) Nigel Wark while announcing the carmaker's decision said: “For the last three months, the rupee devaluation is happening. The rising input costs are also hurting us. We have now decided to increase the prices of all our products by 2-3%."
Mr Wark has said the prices of cars such as the Figo had to be increased despite them having high local content due to the import of technology and raw materials. Ford India has already increased prices three times this year. By making the new price hike effective from January it has kept the number of price hikes to three for this calendar years.
Ford India's small car Figo is priced between Rs 3.71 lakh and Rs 5.73 lakh. Sports utility vehicle Endeavour is sold at Rs. 17.07 lakh to Rs. 20.13 lakh. The company sells the sedan Fiesta Classic for Rs.5.50-Rs.8.20 lakh, while the new Fiesta is offered between Rs. 8.25 lakh and Rs. 10.44 lakh (all prices- ex showroom Delhi).
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