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.
Speaking with Automotive News, George Pipas, a Ford sales analyst, explained that the automaker will continue to cut its sales to rental fleets in 2008, but not to the extent that it did this year. In 2007, FoMoCo decreased the amount of vehicles offloaded to rental lots by 30-percent, or 135,000 units.
There will be no 2007 model year Mazda Tribute for U.S. consumers. The Blue Oval subsidiary's Escape/Mercury Mariner doppelganger will go on sabbatical from May on through the end of the year, though the move will reportedly not alter production levels (or employment) at the automaker's Claycomo, Kansas plant.