Ford India is set to increase the prices of its models by up to four percent in a bid to partially offset the impact of rising input costs. The price hike will be effective from January 2018.
"The price increase is necessary due to several external factors, such as frequent fluctuations in commodity prices and rising input and freight costs," said Vinay Raina, Executive Director - Marketing, Sales and Service, Ford India.
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The price hike would affect all products of Ford including its recently launched the new Ford EcoSport. "From an introductory price of Rs 7, 31,200, Ford EcoSport is expected to see a revision of up to Rs 30,000 across variants," it added.
The new EcoSport, which locks horn with Maruti Suzuki Vitara Brezza, Mahindra TUV300 and Tata Nexon was launched in India in November. Besides EcoSport, Ford also sells Figo, Aspire, Endeavour and Mustang.
Ford India is the latest to join the price hike bandwagon in the country. Earlier, automakers like Tata Motors, Skoda India, Honda and Toyota have announced their decision to increase the prices of their range of models in India with effect from January 2018.
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While Toyota is likely to hike prices of its models by up to three percent from January 2018, Honda will increase prices of its models by up to Rs 25,000 from January 1. Isuzu had announced that the prices of its vehicles would rise by up to Rs 1 lakh from January. Skoda India will increase prices by two-three percent.
