Following Honda and Toyota, Ford today announced that it would raise the prices of ikon variants. Ford says the prices hike has been necessitated due to rupee depreciation. “There will be an increase in the prices of Ikon by up to 1.5 per cent from the price we announced last November while launching a new version of the car,” Ford India Executive Director (Marketing, Sales and Service) Nigel Wark told.”Due to this exchange rate fluctuation our import bills for components have increased and hence we thought it was a logical step to tinker the price upwards a bit to offset the impact,” Wark said. Ford Ikon currently retails at Rs 4.59 lakh (petrol variant) and diesel variant at Rs 5.19 lakh. However this price hike is limited to ikon variants only, the Fiesta, Fusion and Endeavour will not see any price hike