Corona and price increases

We have had the following information from Authentic but it will apply to all manufacturers.

 

“Our industry’s biggest tangible exposure is to the US dollar. Clearly yesterday was a little ground breaking, as the AUD fell below 60 cents against the USD for the first time since 2003 and as I type this, it has plunged to 55 cents.

This is going to have a tremendous impact on all models moving forward, both on those already announced, and those that will be announced in the future.

As the AUD began its decline against the USD, we have tried to hold model prices as announced, however, moving forward we will need to make price adjustments to mitigate the currency rate.

To give you some sort of context, when we started the company back in late 2017, the AUD was over 80 cents against the USD. In the first 2 and half months of this year, the dollar has dropped 12 cents, or nearly 20% and looks like it will continue to drop.

With no real certainty on anything at the moment, it’s too early to say where we will land on price, however, its important to let you know that the models that we said were in production at the moment will end up needing to be released at a different price point than announced. We will update you as soon as we have a fixed price on soon to be delivered models.

Kind regards,

William Hall – Director
Authentic Collectables”

 

No increases have been indicated as yet but we will advise you when we know anything further.