Bentley Announces Increase in UK Prices

The continued weakness of Sterling against the Euro, has forced Bentley Motors to increase the price of all its models within the UK by 5% from the start of April 2009. The price increase will apply to all new orders received after 31st March.

"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.

Credits: Jarvis