"We are reacting to the continued very low value of Sterling against the Euro”, said Stuart McCullough, Board Member For Sales & Marketing. “As a UK business with much of our component costs based in Euros, we have to address the fact that our costs have increased significantly given Sterling’s dramatic decline."
“A 5% price increase at a time of reduced demand and therefore reduced production may seem counter-intuitive”, said McCullough, “but Sterling has depreciated by over 18% against the Euro over the last 12 months. It has therefore proved increasingly difficult to absorb the negative effect of these increased costs on our business.”
“Sales to the Euro-zone provide us with a natural hedge against our Euro denominated costs, so we are able to avoid any price increases in other European markets.”
Other overseas market pricing is unaffected.
UK Prices Applying From April 2009 RRP inc. 15% vat
Continental GT £123,800
Continental GT Speed £141,300
Continental Flying Spur £120,700
Continental Flying Spur Speed £137,000
Continental GTC £136,200
Continental GTC Speed £153,400
Arnage R £173,100
Arnage T £183,100
Arnage Final Series £200,400
Arnage RL £201,400
Azure T £245,000
Brooklands £236,400
Press release via Bentley