Fiat auto, Iveco lorry units have no plans to follow CNH price ...

25/06/2008 22:23. MILAN (Thomson Financial) - Neither Fiat SpA's auto unit nor its Iveco lorry unit have plans to follow the example of Fiat heavy machinery unit CNH Global NV in raising prices for their products, said company officials.

Monday, CNH announced a 5 percent across-the-board surcharge on base prices for orders for its agricultural and construction equipment, citing higher costs for steel, energy, commodities and transport.

A Fiat (nyse: FIA - news - people ) auto official said there is nothing planned in his sector, adding a price rise would be 'strange' in the current 'difficult' market, which has seen sharp falls in recent Italian car sales.

An Iveco official said there is no plan for price hikes at the moment, adding the lorry market is 'a little bit' stronger than autos.

CNH said... // Forbes