Ford India announced a hike of one per cent in the prices of its small car ‘Figo’ from this month in order to minimise the impact of rising commodity rates.
“There has been a continuous cost pressure on our products as input costs are growing. We did a small price increase of one per cent on Figo at the beginning of this month,” Ford India President and Managing Director Michael Boneham commenting on the 1% price hike on the Ford Figo.
After the hike, Figo, which is available both in petrol and diesel versions, is priced between Rs 3.59 lakh and Rs 5.48 lakh (ex-showroom Delhi).
The company also unveiled a new version of its mid size sedan ‘Fiesta’, the first among eight announced products to be launched in India by 2015. While Ford India has not effected this price hike on its other car models in India, it is keeping close eye on input costs, whose further rise would force Ford to hike prices of its other models like the Fiesta Classic and Endevour as well.
Also see – 2011 Ford Figo 1.6 in the Works