When a barrel of oil soars past $100, it affects all of us in more ways than just the gas pump. That counts for auto production as well, as Toyota's recent price increase clearly shows. And Toyota isn't alone, as Automotive News reports that Ford has raised prices on its vehicles by an average of .4 percent across its lineup. That adds up to about $117, which won't break the bank, but at the same won't make any of consumers' weary wallets any happier, either.
Ford analyst George Pipas tells AW that the price adjustment had been planned, adding "If you read the headlines, prices for food, energy, airline tickets are going up across the board." We're reading, George, and we've noticed.
Ford hasn't detailed which vehicles will receive price increases, though we're thinking not all models will be affected by the bump. Several automakers have intimated that rising commodity costs would eat into profits this year
[Source: Automotive News – sub. req.]