It was reported that this famous vehicle manufacturing company
maintained a secrecy regarding the details of the vehicles to be effected by
the price hike. The company showcases some of the popular models in India as
Figo hatch, Fiesta sedan and the recently launched compact SUV EcoSport. The
entity however revealed that the price hike is contributed by the consistently
surging input costs as a result of high inflation, depreciating rupee and high
interest rates.
"Input costs have been consistently increasing and this is
expected to continue for the foreseeable future. Although we have absorbed
increases in costs over the past period, the situation is such that we now need
to revise the prices of our vehicles," stated Vinay Piparsania, Ford India
Executive Director, Marketing, Sales and Service.
The three German manufacturers of luxury cars - BMW, Audi and
Mercedes-Benz has already accounted for a rise in the prices of their vehicles
by up to 5%. Mercedes-Benz had hiked the prices of its entire line-up by up to
4.5%; BMW including MINI hiked prices by up to 5% and Audi raised the prices by
up to 4%. General Motors has also hiked the price of its three cars by up to
Rs. 10,000.
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