Sterling decline = Woosh price increases

[Woosh]

Sterling has now declined against the US dollar to the lowest point since July 2010.
The pound is now $1.52, down from $1.62, equalling a drop of 6.3%.
Against the euro, the pound has fallen slightly more, from E1.23 to E1.15.

This will affect all of us, especially spending on petrol, food and holidays.
Sorry, folks, not good news but obviously out of the control of us ordinary mortals.

I think if anyone is in the market very soon for a bike it might be as well to snap up something fast. I would imagine that with a lot of stock still to arrive in the UK (the balance of bills is usually settled by importers on arrival), a lot of importers and retailers will be putting their prices up over the next few weeks.

Following the UK's credit rating downgrade by Moodys, Woosh plans to see how the pound settles down and then set new prices from 11th March onwards. There won't be a huge increase but regrettably there will be some.

Regards to all

Hatti, Woosh Bikes

 

[flecc]

I've been expecting this Hatti, inevitable and it will affect all of our imports. Now is certainly the best time to buy anything coming in from abroad before the latest wave of price increases hits new stock arriving.

 

[jazper53]

Oil prices which are linked to the US$ it all feels like a slippery pole. Not helped by some supermarkets and others are taking advantage by pricing above the rates of inflation and profiteering at the expense of the poor battered consumer

 

[Kudoscycles]

I can confirm that Kudos's prices will not be increased this year....our bought forward dollars will last at least until December 2013.
KudosDave

 

[Cyclezee]

You must have a crystal ball Dave, any idea of tonight's winning lottery numbers

The exchange rate with the € is also less favourable against the £, imports from Euroland to the UK will no doubt increase, so can we expect exports to do well?

It does look like the mighty $ is the currency to hold right now.

 

[mountainsport]

Sterling has now declined against the US dollar to the lowest point since July 2010.
The pound is now $1.52, down from $1.62, equalling a drop of 6.3%.
Against the euro, the pound has fallen slightly more, from E1.23 to E1.15.

This will affect all of us, especially spending on petrol, food and holidays.
Sorry, folks, not good news but obviously out of the control of us ordinary mortals.

I think if anyone is in the market very soon for a bike it might be as well to snap up something fast. I would imagine that with a lot of stock still to arrive in the UK (the balance of bills is usually settled by importers on arrival), a lot of importers and retailers will be putting their prices up over the next few weeks.

Following the UK's credit rating downgrade by Moodys, Woosh plans to see how the pound settles down and then set new prices from 11th March onwards. There won't be a huge increase but regrettably there will be some.

Regards to all

Hatti, Woosh Bikes

Thanks for keeping us posted,therefore the saying still remains the same that, GOOD THINGS NEVER LAST FOREVER! or ALL GOOD THINGS MUST COME TO AN END! In your case WHAT WAS DOWN MUST GO UP.

Mountainsport.

 

[tillson]

The price escalating ratchet mechanism seems to be working well. Didn't notice the price of goods tumbling last summer when the pound was rallying against the Euro and Dollar.

People in salaried employment are expected to manage their finances and living standards according to parameters dictated by wage freezes or wage reductions. When something happens which will potentially affect business in the same way, ie reduce or freeze the profit, the hardship is always passed on to the customer in the form of a price increase. There's no wonder the economy is shrinking, people aren't going to stomach price increases on what are non-essential goods when their own income is frozen or reducing.

 

[flecc]

When something happens which will potentially affect business in the same way, ie reduce or freeze the profit, the hardship is always passed on to the customer in the form of a price increase.

Absolutely true, but the function of a business is to make a profit, so they are not wrong for trying to do that. Regardless of price increases, sales will remain depressed until the population start to feel more confident about the future. There was a time when we could influence that with our own lowered prices and full employment, but now that we produce so little, the matter is largely out of our hands.

 

[dmcgoldrick]

its the usual softening the customer up ahead of the main selling season......bike prices rise to their maximum in march.....hold until about october and then the reductions start. lowest prices usually in january 'to make way for new stock'.........thats been the way with selling bikes for as long as i can remember........not much to do with exchange rates....bikes are assembled from parts on the global market.......cant criticise the sellers for doing this....just business.......
regards

 

[dmcgoldrick]

I can confirm that Kudos's prices will not be increased this year....our bought forward dollars will last at least until December 2013.
KudosDave

my euros bought last year will see me through this years holiday trip into europe.......that high exchange rate was never going to last.........

 

[Kudoscycles]

You must have a crystal ball Dave, any idea of tonight's winning lottery numbers

The exchange rate with the € is also less favourable against the £, imports from Euroland to the UK will no doubt increase, so can we expect exports to do well?

It does look like the mighty $ is the currency to hold right now.

Its all about 'fair value',currencies tend to settle around a fair value....anything above $1.60 or euro 1.20 appeared fair value. If the dollar climbed above $1.60 then we could always use spot,obviously if it climbed to $1.70 and above,and we need no further dollars, then we would lose out but if the prices are based upon say $1.50 then we are protected.Its the safer option.
I have seen the dollar at parity with the pound and $2.00 pound,to use these extremes is gambling.
KudosDave