For the third time this year, Ford is raising prices. The latest increase is .03% or $124. Year to date, Ford has raised new car prices 1.3% or $375.
The latest increase, like the previous two, is due to Ford having to keep up with higher commodity prices.
As Ford has faced higher prices for steel, aluminum, rubber, oil (used for resins), and a host of other raw materials used for building cars and trucks.
While some of these costs have eased in recent weeks, Ford is still facing higher prices. The automaker told dealers about the price increase in the last two weeks.
Overall, the auto industry has increased prices 1% with Ford competitors announcing price hikes in the last couple of months.
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