Chrysler has announced that it will increase its Canadian incentives in order to compensate for the high value of the Canadian dollar. Earlier this year, the Canadian dollar matched the value of the U.S. dollar, but Canadian car prices failed to adjust with the change. Porsche was the first automkaer to address the price discrepancy, lowering its Canadian prices by 10%.
“We’ve heard the concerns in the media from dealers and customers about the differences in manufacturer’s suggested retail prices (MSRPs) in Canada and the U.S.,” Stuart Schorr, Chrysler’s senior manager of communications, told the Toronto Star. Some Canadian vehicles are priced $10,000 above their U.S. counterparts.
Chrysler will offer its Canadian customers as much as $5,250 in additional incentives. Chrysler’s flagship model, the 300C, will now be available with a whopping $9,250 in cash incentives.
It is believed that General Motors, Ford , Toyota and Honda will follow suit, possibly as early as the end of the week. BMW and Mercedes-Benz have already adjusted Canadian pricing.
Earlier this year, the law firm of Juroviesky and Ricci announced a class action lawsuit against the automakers for unfair Canadian pricing.
