Ford launched the Figo this year hoping it to be game-changer for them. And what a game-changer it has proved to be. Ford has recieved more than 20,000 bookings for the car since the last two and a half months.
The pricing was one of the major factors behind the car's success apart from the brilliant engines and overall package of the car. The car's introductory price was kept as low as 3.5 lakhs for the 1.2L petrol engined version and 4.48 lakhs for its 1.4L diesel engined sibling. But due to increasing costs of components and materials, Ford will have to re-consider the pricing, which means a hike in price soon.
"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." Ford India Executive Director (Marketing, Sales and Services) Nigel Wark told PTI. The revised price will be effective from June 1st. When asked about the hike, he said ,"We are still fine tuning the price. It will, however, not be a major hike and well below two per cent.�
And came another news along. Ford will be upgrading their plant and boost the production of Figo in order to meet the market demand and thus reduce the 4-week waiting period of the car. At present Ford manages to produce around 6,000 cars a month but with an introduction of 700 new employees and a second shift at their plant in Chennai, expect the numbers to increase soon.
Ford India has increased the prices of the Figo by one percent. As we talked with Michael Boneham, president and MD, Ford India, yesterday at the unveiling of the new Fiesta, he told us about the development. Mr. Boneham was answering a question from Motoroids about the impact of the rising input costs on the margins of the company. 
