Weak pound ‘forces Ford to raise prices’
Prices across the Ford range are set to go up in July as a result of the weak pound, it has been revealed.
The car manufacturer said that the "sustained" weakness of sterling against the euro means the cost of vehicles will increase by four per cent across the entire range.
Nigel Sharp, managing director of Ford for Britain, said the move was "in common with most of the UK auto industry".
"Raising prices in difficult times and when a scrappage scheme has been introduced may seem counter-intuitive but with so many of our costs priced in Euros, there is no choice if we are to maintain a viable business," he added.
A four per cent rise means the cost of popular models such as the Fiesta, Ka and Ford will increase by between £600-£650, while the Ford Galaxy will rise by £800.
In related news, figures released by British Car Auctions recently revealed that the cost of used convertable vehicles rises during the summer months.
Those looking to invest in a soft top are advised to make their purchase in November.
