FoMoCo has increased prices of its vehicles by an average of $124, or 0.4 percent, this month due to higher commodity costs, according to spokesman Todd Nissen. So far this year, Ford increased prices in January, as well as in April.
Nissen said that Ford increased prices by an average of 1.3 percent, or $375 per vehicle, this year, which adds to the average price increase for all automakers in the United States.
GM last month bumped up its prices an average of 0.4 percent, or $123. Toyota also hiked prices on 2011 car and light truck models.
The price increases are coming as costs for steel, rubber and other materials are increasing.
– By: Omar Rana
Source: Automotive News