Starting April 1, the prices of all of Ford Motor Co.’s 2011 models have been raised at an average of $117, or 0.4%. George Pipas, Ford’s chief sales analyst, cited “higher commodity costs” as the reason for the price increase. Pipas explained that Ford has been planning this adjustment for quite some time and that many items have been increasing, namely food, transportation, and energy. Last month, Ford had posted a 16% increase in US sales.
Dealers have been notified of the price increase but so far, the specific price adjustments on the models have not been revealed. Ford and other carmakers have said that profits will be affected by increasing commodity prices.
Toyota Motor Corp. also raised the prices of many 2011 Toyota, Scion and Lexus models by 1.7% on average. Toyota said that it had to cope with the rising yen as well as with the supply chain being disrupted by the Japan disaster.
The small imported Scion xD is now more expensive by $65 while $900 have been added to the price of the Toyota Land Cruiser and Sequoia SUVs and several Lexus models.
Toyota released a statement, revealing that the prices of its models have been raised by a value between 1.2 and 2.2%. Meanwhile, Lexus’ price increases are between 0.8% and 2.1%, ranging from $600 for the GX 460 SUV to $900 for the IS F, LS and GS 450h sedans, and the LX 570 SUV.