Ford announces further price hikesWeak pound blamed for third rise this year
25 June 2009
Ford will raise the prices of its cars by an average of 4% next month, adding hundreds to the cost of some of the country’s biggest-selling models.
The carmaker blamed the ‘sustained weakness of the pound against the euro’ for the increases, which will see the list price of the popular go up by at least £600.
It is the third time this year Ford has announced increases. Prices were put up by an average of 4.7% in February and, in April, there was a further 3.75% rise.
Ford price hikes
Nigel Sharp, managing director of Ford in Britain, said: ‘Raising prices in difficult times, and when a has been introduced, may seem counterintuitive but with so many of our costs priced in euros, there is no choice if we are to maintain a viable business.’
The exchange rate through to the end of 2007 had been stable for around 10 years, with the pound worth around €1.43, Sharp added, but recent exchange rates had been about €1.16 to the pound.
The latest increase, which takes effect across all model ranges on 1 July, means buyers can expect to pay up to £650 more for a and around £800 more for a Ford Galaxy.
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