Model price correction at the turn of the year has become a norm of the automobile industry. We’re past the 1/3^rd-mark of December 2020 and news has now come in that two carmakers – Ford and Maruti Suzuki – will be hiking the prices of their respective models from January 2021. Both brands have cited the same enabler – the rise in input costs.

Now, Maruti Suzuki hasn’t mentioned the quantum of increase. In a regulatory filing, India’s largest carmaker said that it has become imperative to pass on some impact to customers through a price hike in January 2021. And, the price increase will vary for different models.

Ford, on the other hand, did release some figures. The upward revision in prices will range between 1 and 3 per cent. When translated into rupees, expect the models to get costlier by at least Rs 5,000 and at most Rs 35,000. Vinay Raina, who is the executive director of marketing and sales at Ford India, confirmed that those bookings made in 2020 would be secured from the upcoming price increase.

Maruti Suzuki, as we know, has an extensive range of cars in its portfolio. Put together, it sells fourteen different models from its two dealership chains – Arena and Nexa. The least expensive of the lot is the Alto, which starts at Rs 2.95 lakh. Filling the other end of the scale in the XL6, which tops out at Rs 11.51 lakh.

As for Ford, it has a much leaner list. Only six models are on offer, and three out of them descend from the same family tree – Figo, Aspire and Freestyle. The least expensive Ford currently available in India is the Figo, which starts at Rs 5.49 lakh. The Mustang GT slots in at the other end with a listed price tag of Rs 74.62 lakh.

Story source: PTI