Just like Nissan Motors has hiked the prices of its small car, the Nissan Micra, Ford Motors India Limited also have announced that the price of the Ford Figo are been hiked by one percent starting from this month. Ford India Managing Director and President Michael Boneham who announced the price hike said that the company had borne the rising costs of inputs for a long time and now they can no longer afford to bear the costs and hence would have to transfer it to the customers. He also said that the price hike is by a small margin and hence shouldn’t affect the buying decisions of the Ford Figo loving customers.
The Ford Figo after the price hike is now priced between Rs 3.69 lakhs to Rs 5.58 lakhs. The former price is for the base petrol whereas the latter is for the top end diesel model. All these prices are ex-show room, Mumbai. Both the variants of the Ford Figo are very much in demand. The company, each month, currently manages to produce about 13,000 units in two shifts. It is said that the company is currently facing some difficulties in procuring raw materials and immediate expansion plans are being put on a back burner.