Ford India launched its small car model Ford Figo in the Indian market two months back. The model comes with attractive features and quite a competitive price tag making it one of the most sought models in the Indian auto market. However, the new Ford Figo is set to become more expensive from next week. Ford India has decided to hike the price of the model form June 01, 2010. The quantum of price hike still remains unknown but Ford has indicated that Figo will be expensive owing to the rise in input costs.
"We can't defy gravity forever. The general industry cost is rising, steel prices are up, components are costlier and there has also been an increase in transport cost," said Ford India Executive Director (Marketing, Sales and Services) Nigel Wark.
Ford Figo is currently available in a price range of Rs. 3.5 lakh to Rs. 4.48 lakh. It is available in 1.2L petrol and 1.4L diesel model. Ford has already decided to ramp up its production owing to the high demand of the model. It has also stated that it will hire 700 new employees including floor staff and engineers by end of June this year.
