Ford increases prices on 2011 models by 0.4%

2011 Ford Mustang GT
2011 Ford Mustang GT

FoMoCo has increased pricing an average of $117, or 0.4 percent on 2011 models starting Friday, April 1 (and no it’s not an April Fools joke).

According to George Pipas, Ford’s chief sales analyst, the price increase is due to ‘higher commodity costs’ and not cause of the massive earthquake in Japan.

“This adjustment has been planned for some time,” Pipas said. “If you read the headlines, prices for food, energy, airline tickets are going up across the board.”

Dealers were inform of the price adjustment on Friday. Ford reported a 16 percent gain in U.S. sales last month. The Dearborn automaker and other have previously warned that rising commodity prices will eat into profits this year.

– By: Omar Rana

Source: Automotive News