Ford is to increase the prices of its new cars by an average of 3.75% on 1 April, it was announced on Tuesday.
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The decision, which will see prices rise by up to £1,000, means car buyers will be faced with paying more for popular models like the and .
Ford said it was in a ‘battle for survival’ and warned that other car companies were likely to have to increase their prices too.
Ford price rises
Nigel Sharp, managing director of Ford of Britain, said most of the firm’s costs were in euros and margins had been squeezed to such an extent that price rises were the only way forward. He refuted any suggestion that the company was ripping people off.
He said: ‘It is regrettable that we are putting prices up but this is a battle for survival. We would rather sell one car for a profit than sell 1,000 at a loss.’
Sharp said prices would go up by 6.1%, prices by 3.3% and prices by 2.7%. The cost of a new Ford Ka will increase by just £50, while a coupé cabriolet will cost £1,000 more.
Mr Sharp added that this was ‘not the end of the story’ as far as price rises were concerned and the company was expecting, like the rest of the industry, to increase prices further as the year went on.
However a Ford spokesperson confirmed today; ‘Customers always have the chance to haggle to secure the best deal.’
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