Following sensational news yesterday
regarding a decision by
Ford and
General Motors company
Vauxhall to hike prices despite slumping new
car sales, the
car companies have responded to criticism.
The
car companies decided to increase prices following the
announcement of a 2.3 billion pound aid package unveiled by the
Government. Ford said prices on
new cars would soar 4/7 per cent across their range.
BGC Partners expert Howard Wheeldon reportedly commented:
With fields and car parks right across the country piled high
with unsold
cars, it may come as something of a surprise to hear that both
Ford and GM are planning to raise the price of all cars they sell
in the UK. Of course, announcing a price rise is one thing but
putting it into effect quite another. From a customer perspective,
there has probably never been a better time to
buy a car .
Ford reportedly said: We are reacting to what's really an
industry concern with the value of Sterling plummeting against the
Euro. With so many of our costs being in Euros and the pound having
gone down so dramatically we have to redress the
balance.
