New Delhi: Automaker Ford India on Monday said it will increase prices of its models by up to 4 per cent from January to partially offset the impact of rising input costs.
“The price increase is necessary due to several external factors, such as frequent fluctuations in commodity prices and rising input and freight costs,” Ford India Executive Director – Marketing, Sales and Service, Vinay Raina said in a statement.
The company has tried to minimise the impact on its customers by absorbing a large part of these incremental costs and capping the price hike to 4 per cent, Raina added.
The company said the price hike would apply to all Ford products, including the recently launched new Ford EcoSport.
“From an introductory price of Rs 7,31,200, Ford EcoSport is expected to see revision of up to Rs 30,000 across variants,” it added.
Ford currently sells a range of models, from hatchback Figo with price starting at Rs 4.8 lakh to iconic sports car Mustang priced at Rs 71.62 lakh (all prices ex-showroom Delhi).