Tata Motors, Ford, Nissan to hike prices from January
"We are taking this step due to increase in input price owing to high commodity prices and frequent fluctuations in foreign exchange rates," Ford India Executive Director - Marketing, Sales and Service, Vinay Raina told . Ford sells a range of models, from compact utility vehicle Freestlye (starting price Rs 5.23 lakh) to iconic sports car Mustang priced at Rs 74.62 lakh (all prices ex-showroom Delhi). Similarly, Tata Motors also said it will hike prices of its passenger vehicles across models by up to Rs 40,000 from January 1, 2019, to offset the impact of rising input costs and increase in fuel prices. "The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase," Tata Motors President of Passenger Vehicles Business Unit Mayank Pareek said. Maruti Suzuki, Toyota Kirloskar, BMW, Renault and Isuzu have already announced price hike from next month citing impact of increase in commodity prices and foreign exchange rates.