Figo To Cost Higher By 1%

By By: Vicky.in

Published: Friday, April 15, 2011, 15:13 [IST]

Ford India has announced the price rise for its Figo by 1% effective instant quoting the commodity price rise. The MD and President of the Ford India said the company could not resist the cost pressure on the products due to the input costs. He said the price rise may be effected on other models too if warranted and the changed price of Figo will be for both petrol and diesel versions in the range of Rs.3.59 lakhs and Rs5.48 lakhs. To fulfill its assurance of launching eight new models, the first one in the series Fiesta premium was unveiled recently and the formal launch may be in 2015 he added. He further said the Fiesta manufacturing will be domestic in its Chennai facility which has the capacity of 2 lakh annual units on three shifts. The Ford facility delivers 2.5 lakh engines per year.

Ford India's Executive Director for marketing, sales and service in India claimed that the growth rate of the industry may be around 15% during this fiscal and the company is aiming to better this mark. He said there has been a constraint in the supply of components which make them face challenges since they could not meet the demand. The facility is producing 12000 monthly units by working two shifts. He did not elaborate much on the construction of new facility in Gujarat quoting that Ford is concentrating on long term visions.

Article Published On: Friday, April 15, 2011, 12:54 [IST]

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