Ford India is set to increase the price of its entry-level sedan the Ford Ikon by up to 1.5% from April. The factors contributing to price hike are increasing component price and depreciation of Indian Rupee. It is said that in the last three months the Indian Rupee has depreciated to a great extent and at present it has closed at Rs 50.70 for a dollar.
Commenting on the account the Ford India Executive, Nigel Wark, said, “There will be an increase in the prices of the Ikon by up to 1.5 per cent from the price we announced last November while launching a new version of the car.” He also added, “Due to this exchange rate fluctuation in import bills for components have increased and hence we thought it was a logical step to tinker the price upwards a bit to offset the impact.”
In November 2008, Ford had introduced the facelift versions of the Ikon priced at Rs 5.19 Lakh (ex-showroom Delhi) for the diesel variant and Rs 4.59 Lakh (ex-showroom Delhi) for the petrol variant. The company refuses to raise the price of other car models from its range as they have already experienced a price hike.