Impervious to the plight of the filthy middle class during the global automotive and economic crisis, Bentley Motors has announced they will be implementing a 5% price hike in the UK beginning in April of 2009. According to Bentley, the decision to increase the price was a direct result of the falling value of the European Sterling and as such will only apply to vehicles sold in the UK market. “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,” continued 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.”

Source: Bentley