Ford Motor India would announce an across the board price hike next month, a top company official said on Wednesday.
"We have decided to hike prices by 2-3 per cent of all the models by January as input costs, especially of steel and rubber are growing. The increase will be applicable by next month itself," Vinay Piparsania, vice-president, marketing, Ford Motor India, told PTI in New Delhi.
The company had been under constant cost pressure throughout the last year. Apart from steel and rubber, material, distribution and transportation costs have also gone up substantially, he said, adding, "So far we have tried our best to absorb rising cost of different materials."
The local arm of the world's second-biggest carmaker is working with a clutch of finance companies to keep the monthly income plan stable.