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Ford raising prices 2.7 percent in December

Ford said yesterday it will raise its prices in the U.K. for the second time this year because of the weakness of the British currency against the euro.

The latest average price rise of 2.7% will take place in December, following a 4% rise over the summer.

Ford of Britain said the increase would add an extra £250-500 pounds to the cost of popular models including the Ka, Fiesta, Focus and Mondeo, which it assembles in Germany and Spain.

The company said the depreciation of the pound had increased the total costs for its British operations.

"To combat the continuing weakness of the pound against the euro, Ford has reduced costs across its entire U.K. business, including personnel reductions in its central operation and across its dealer network," said Nigel Sharp, managing director of Ford of Britain.

"However, price increases are still required to maintain a viable business and to recover relative cost increases caused by the weakness of the pound over an extended period," he added.

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