Fisher & Paykel Appliances Holdings Ltd. is raising prices for all its products in New Zealand by about 5 percent as raw materials prices increase.
The increase follows similar rises in Australia and the U.S., said Paul Brockett, vice-president of investor relations, according to the newspaper. The company needs to recover costs, Brockett said.
This increase also follows increases in the price of appliances from other manufacturers hit by the Euro price changes as well as increased raw materials costs and, on top of all that, increased transportation costs.
Bosch are said to be looking to raise prices again before the end of the year and strongly rumoured to be increasing spares prices again before the end of 2008.
Electrolux may have a rumoured 15% price increase on finished products as well as a “substantial” increase on spares pricing.
Indesit are also coming under increasing pressure to increase pricing as their share value dips.
No doubt others will follow.