CHENNAI: In a bid to marginally offset the impact of rising input costs, the Indian subsidiary of American car manufacturer Ford India on Monday stated it would increase the prices of its models by up to 4 per cent starting January 2018.
Justifying the move, Vinay Raina, executive director - marketing, sales and service at Ford India, said,
“The price increase is necessary due to several external factors, such as frequent fluctuations in commodity prices and rising input and freight costs.”Raina said that the company has tried to minimise the impact of price hike on its customers by absorbing a large part of these incremental costs and capping the price hike to 4 per cent.
According to a company statement, 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.