Thursday, December 08, 2011
By Pranjal Gera
Ford cars to go costlier by upto 3 percent from January 2012
Since the entire automotive sector is facing a not so good time due to rupees’ fall against US, inflation and fuel price hike, most of the car makers have recently announced to hike their prices by upto 3 percent from January, 2012.
Ford India has been one of those four automotive giants, which has first made their price rise plans official across all its ranges by 2 to 3 percent.
Explaining the reason of price hike, Director- Ford India Executive Nigel Wark said that, having seen the constant rupee devaluation for the consecutive three months, company has finally decided to slog prices of all its product line. The renewed prices will come into effect from January 1. 2012.
Reasoning the collision of currency rates, Wark added that, however products like Ford Figo has got a high local substance, yet importing technology and raw materials are burdening the overall operating cost of the model, therefore, increase price has become a requisite.
Presently, the ex-showroom (Delhi) price of Ford Figo is between Rs 3.70 to 5.73 lakh, SUV Ford Endeavour -17.07 lakh to Rs 20.13 lakh, Sedan Fiesta Classic for Rs 5.50 lakh to 8.20 lakh, while the fiesta is priced amid Rs 8.25 lakh to 10.44 lakh.
The other car markers, which too have officially acknowledged their price hike plans are Toyota Kirloskar, General Motors and Hyundai Motor India, they have reported to increase their prices by 1.5 to 2 percent, 1 to 2 percent and 1.5 to 3 percent respectively.
The two ace car makers Maruti Suzuki and Tata motors too might announce soon to elevate their prices.