Ford has said that it will raise car prices in Russia by between 9% and 25% starting May 1.
Nigel Brackenbury, head of the carmaker’s Russian subsidiary, said during a conference call that further increases were necessary because of the devaluation of the rouble in recent months and the impact that has had on imported cars and components for Ford’s manufacturing plant at St Petersburg.
He did not rule out the possibility of further price hikes later this year.
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Ford has already announced several price hikes in Russia this year. Ford raised car prices in Russia by 5% starting January 1, by 4.5% starting February 1, and by 5% starting April 1.
Data released by the AEB yesterday shows that the locally assembled Ford Focus remains popular in Russia, with sales in the first quarter down by just 4% in a market down by 40%.
