Ford EcoSport price hike Rs 50,000: Pune on-road price Rs 8 lakh for diesel
EcoSport price has been revised as Ford India has announced a price hike which came into effect from 5th September 2013. Speaking to a local Ford dealer, the new price of EcoSport petrol now starts from Rs 6.56 lakh, on road Pune. This means price of EcoSport has been increased by Rs 50,000 across all 10 variants.
The reason behind increase in price, is due to various macro economic factors which include a depreciating rupee, rise in inflation and higher interest rates being charged by banks. This has had an adverse effect on input costs which till date were being absorbed by the company. However, further burden has resulted in the company being left with no other alternative than to pass a part of the onus onto customers.
Ford India will also increase price of their other cars. The depreciating rupee is adversely affecting margins, leaving auto companies with no other recourse than to increase prices. The depreciation of Indian rupee touched an all time low of 68.85 against 1 USD on August 28th, weakening over 20% since April 1, 2013. This has put increased pressure of import costs on auto majors in the country and General Motors, BMW and Mercedes Benz have already hiked prices of their models.