Ford has hit the purple patch with the Figo, which is turning out to be the new star of the segment. The Ford Figo is a huge success, the main reason being its killer value for money pricing. Ford has got it spot on with the Figo, but today, we’re expecting an announcement from the company regarding a price hike..
Nigel Wark, Executive Director (Marketing and Sales), Ford India
We can’t defy gravity for ever. The general industry cost is rising, steel prices are up, components are costlier and there has also been an increase in transport cost.
The price of the Figo was its main selling point, and now with the impending price hike, would buyers be willing to pay more from their pockets to get their hands on the Figo?
Now Ford has to put up a balancing act and has to cope up with the increasing input costs while not losing customer to the price hike. How much is the price rise going to be?
[...] with the problem of rising input costs for producing its cars and is under increasing pressure to raise the prices of its cars. However, the company will continue to maintain the current prices for its cars, until it feels [...]