Automaker Ford India has said it will increase prices of its models by up to 4 % 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 %, he added.
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The company said the price hike would apply to all Ford products, including the recently launched new Ford EcoSport.
“From an introductory price of ₹ 7,31,200, Ford EcoSport is expected to see revision of up to ₹ 30,000 across variants,” it added.
Ford currently sells a range of models, from hatchback Figo with price starting at ₹ 4.8 lakh to iconic sports car Mustang priced at ₹ 71.62 lakh (all prices ex-showroom Delhi).