Ford to raise UK prices

• Source: Shanghai Daily
• [11:12 June 25 2009]
• Comments

Ford said yesterday that it will raise its vehicle prices in the United Kingdom by an average of 4 percent in July because of the weakness of the British currency against the euro.

Ford's British operations said the increase would add 600 pounds ($1,000) or more to the cost of popular models including the Ka, Fiesta, Focus and Mondeo, which it assembles in Germany and Spain.

The company said the depreciation of the pound increased the total costs for its British operations.

"The total revenue impact has been huge ... on Ford's UK business," said Nigel Sharp, managing director of Ford of Britain.