Car manufacturer Ford India has hiked the prices of all its models except the Ford Ikon, starting from January 1, 2009. The company has taken the step in view of rising import costs due to the declining rupee. Another reason is the growth in auto component prices, which have risen in spite of input prices going down in recent months.
While the Ford Endeavour is now costlier by Rs.25,000, the Ford Fiesta has seen a price hike of Rs.5,000-10,000. The price of the Ford Fusion, too, has increased by up to Rs.15,000. Only the Ford Ikon’s price remains the same, its new version having received a good response from the market. The import content of the Ford Endeavour is 70 per cent, while that of the Fiesta and Fusion is about 20-30 per cent.
Other car companies that have recently announced price hikes are Toyota Kirloskar Motors, Hyundai Motor India Limited and Honda Siel Cars India.
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