Bentley Confirms Price Increase in the UK

Even though Bentleys aren't quite the cheapest models in the world, the English car manufacturer today announced that it will increase prices in the UK by 5 percent following the depreciation of Sterling against the Euro. The new prices will become effective on April 1, 2009, the company said today in a statement for the press. According to Bentley, the Sterling has depreciated by over 18 percent against the euro over the past year so a 5 percent price increase pretty much makes sense.

"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."

Prices for the new Bentley range now start at 120,700 pounds for the Continental Flying Spur and go up to 245,000 pounds for the newly-launched Azure T. Here's the list of the update prices (include 15 percent 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