Ford India to elevate prices up to 3% from January 2012

Published On Dec 08, 2011 12:11 PM By Vidyadhar for Ford Figo 2015-2019

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Ford India is expected to hike prices of its whole range of cars by up to 3% from the month of January 2012. These elevated prices are due to the rising input costs and low value of rupee. As per the executive director of marketing and sales services of Ford India, Mr. Nigel Wark, since last 3 months, the rupee value is tumbling at a great rate and the rising input cost are also painful for the firm. Therefore the firm has decided to swell up the prices of its entire product range by 2 to 3%.

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This hike in prices will be applicable from January 1st, 2012. Mr. Wark also stated that Ford’s models like Ford Figo are high on localization. On the other hand, the suppliers of the company import raw materials and import technology and with this they are facing a lot of stress. Therefore, the operating cost of firm has also amplified in the last few months. In the year 2011, Ford India had already hiked its product prices thrice, which is not a good sign for the firm. Ford Figo price currently ranges from Rs. 3.71 lakh to Rs. 5.73 lakh, whereas the price of Ford Endeavour is between Rs. 17.07 lakh to Rs. 20.13 lakh.

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Ford India is proudly selling its sedan, Ford Fiesta Classic for Rs. 5.50 lakh to Rs. 8.20 lakh and Ford Fiesta is being sold for Rs. 8.25 to Rs. 10.44 lakh. However, Ford India is not the only one who will be raising its product rates. Indian second largest car manufacturer, Hyundai Motor India is also considering elevating the prices of its cars by 1.5 to 2% from 1st January 2012 all thanks to the high inflation and lower rupee rate. Even, Toyota Kiroskar Motor and General Motors India are also in plans to raise prices of its models from January 2012.