Popular model company releases a statement regarding a pricing update
Hornby has released a statement regarding a pricing update: “The widely reported global shortages of shipping containers and raw materials, primarily caused by the Covid-19 pandemic, has led to the drastic inflation in shipping and container prices, as well as the rising material costs due to shortages. As a company we (Hornby) have absorbed these extremely large price increases for the last six months in the hope that the container and other shortages were a short-term issue, but having consulted our shipping agents and raw material suppliers, both at home and abroad, this does sadly not seem to be the case. We have therefore been forced to relook at our cost forecasts for this financial year and it is with regret that we will, to accommodate these continually spiralling shipping and material costs, increase our prices by approximately 10% across all (Hornby) brands, excluding Humbrol.
“Please be aware that we (Hornby) have not taken this decision lightly, but to ignore such huge increases in shipping and material costs both as imports and exports would not only be delaying the inevitable but also seriously damage the profitability gains that all at Hornby have worked so hard to achieve over these last three to four years.”
Clearly the damage that the Covid-19 pandemic has caused goes much further than the actual virus and has, and will, regrettably continue for some time to come. An example of the price increases, which have already been implemented, Corgi’s new Bristol F.2B Fighter, the subject of the article on pages 48 and 49 of this issue, was £69.99 when released only a couple of months ago, is now £76.99.
As collectors, we totally understand that this is a necessary measure to protect and preserve the manufacturers and, to be honest, it is a small price to pay for their continued presence. There will inevitably be casualties over and above those we have already seen as a result of the pandemic, but measures such as this will help to keep our hobby alive. It is a brave move by Hornby, and the company’s honesty is to be applauded. Many others will surely follow.