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Ford to cut prices 'immediately'

Wed, 26 Nov 2008
People considering buying a car in the near future may welcome the news that Ford is to apply the cut in VAT to its full range immediately.

Earlier this week, chancellor Alistair Darling revealed in his pre-Budget report that the government was reducing the tax from 17.5 per cent to 15 per cent.

This cut will take effect from December 1st.

However, Ford has agreed to pass on the savings to its customers with immediate effect, providing payment and legal transfer takes place on or after the official start date.

The manufacturer explained the drop in VAT will result in a price cut of £200 on the new Fiesta.

Chairman and managing director Roelant de Waard said: "We are pleased that the government has taken such decisive action and we hope the tax reduction will encourage more customers to visit their local Ford dealership."

Meanwhile, the company put its increased market share of new car sales in October down to the "exciting" range of vehicles it is currently offering.

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