FORD has hiked the prices of its Light Commercial Vehicles by up to more than £3,500 as it moves to mitigate rising costs due to supply issues, material costs and the ongoing Covid-19 pandemic.
An internal email outlines price increases for all Commercial Vehicles, with the exception of Fiesta Van and the electric E-Transit. Pricing are effective from start of day 1st November 2021 on all new contracts New price lists will be issued next Monday, November 8 for all vehicle lines.
All manufacturers are under increasing pressure following the global disruption to materials and supply caused by the pandemic and Ford is the first to blink. Industry insiders expect others to follow.
There has already been some activity the year with Volkswagen announcing 6% and above price increases for Transporter and Crafter while there have also been price rises for the Mercedes Sprinter and Toyota Hilux.
A Ford spokesman said: ““We are experiencing unprecedented market factors including material cost increases and supply challenges and therefore have to adjust prices in response to these cost pressures to maintain a viable business and enable us to continue to make investments if we are to transform our business and continue to progress its electrified future.
“We will honour pricing for existing customer contracted orders. It also is important to point out that positive residual values – which are expected to continue into 2022 – will help to offset any price increases for our customers.
“As the UK’s and Europe’s leading provider of commercial vehicle products and services we always try to ensure that we provide our customers with a competitive offering in the market segments within which we compete.”
Ford’s new prices include an additional £650 for the Transit Courier, £1,350 on Ranger, up to £2,615 on Transit Custom and Tourneo and up to £3,750 on top specification Transit V363 Van, DCiV, People movers and Chassis Cab.
Some of the increases will be mitigated, however, by the addition of more equipment on both Transit Custom and Transit including Digital Rear View Mirror, LED airline track load space Lights and new driver assistance packs.