It’s not really a surprise. With the price of food and commodities going up, manufactured goods are following suit. In the automotive arena, car stereo prices have been increasingly steadily and now the automakers themselves are doing it.
Toyota has already said it’s raising prices by around 1.7 percent on North American market vehicles; also blaming the increase on a rising Japanese Yen. Now Ford Motor Company is also doing the same, though in this case, the hike is a little less dramatic; the automaker saying the increase will only be around 0.4 percent.
George Pipas; Ford’s Chief Sales Analyst; says that in the Blue Oval’s the case the rise is purely as a result of higher commodity prices, largely fueled by the ongoing crisis in Libya. The increase comes on the back of a growth in sales last month; the automaker posting gains of some 16 percent in the US.
[Source: Automotive News]