Ford Motor Co. (F), the second-largest U.S. automaker, has raised the prices on its vehicles by an average $117, or 0.4%. That’s the second time this year when Ford increase prices
The increase is because of “higher commodity costs,” George Pipas, Ford’s chief sales analyst, said Monday.
“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.”
Although consumers likely won’t be thrilled by the price hike, Ford’s price increase is actually more moderate than Toyota’s. While Ford’s increase is about 0.4 percent across the board, Toyota increased its prices on Toyota-badge vehicles between 1.2 and 2.2 percent for 2011.
Ford last raised prices by $130 per model, or 0.5 percent, in January, Nissen said. Ford, which posted a 16 percent increase in U.S. sales last month, can command higher prices even in a fragile economic recovery, he said.
“There are signs of economic recovery such as job growth,” Nissen said. “There are price increases in other sectors, such as gasoline.”