Rising raw material costs across the globe has forced Fiat Group to increase its pricing, with Fiat Group Automobiles' products (Fiat, Lancia, Alfa Romeo and Fiat Professional) going up on average 1.5 pct, Iveco up 2.5 pct and CNH Global up 5 pct.

"Fiat Group and its businesses have always paid extreme attention to establishing pricing policies which are consistent with the international economic context," read a statement issued by Fiat Group in Turin this week. "This commitment is particularly relevant in light of the significant increases in raw materials costs currently impacting the manufacturing sector globally.

"The Group has implemented a pricing policy which will enable it to maintain the margin levels for individual models established in the business plan, taking into consideration the various marketing and distribution strategies for each national market.

"At the beginning of June, all brands in the Fiat Group Automobiles portfolio (Fiat, Alfa Romeo, Lancia, Fiat Professional) adjusted prices on their respective product ranges to compensate for changes in raw materials costs. The average price increase across the portfolio was 1.5%. CNH has already announced a 5% increase for all products in both the agricultural and construction equipment business lines. Effective July 1st, Iveco has instituted a price realignment of 2.5% in the Italian market for its heavy range. This initiative will be implemented in other markets with exact timing and application being determined on an individual basis.