Today Wiha Tools announced new lower pricing on 394 different tools. The weighted average of this price drop is a 6.14% decrease. I think this is very cool and I applaud Wiha for reducing prices. If you would like to see a list of all the Wiha Tools that have new lower pricing please click here.
It’s very common for Wiha and other tool manufacturers to raise prices annually and this year will be no exception. Manufacturers often need to increase prices to cover additional costs of packaging, freight, raw materials, currency exchange, R&D, and labor costs.
On May 1st, Wiha will raise the price of 472 tools an average of 5.45%. If you take all of these price changes into consideration, the end result is an average decrease in price by .05% overall. Great job Wiha for offsetting the necessary price increases with price decreases and especially for offering the decreases months before the increases take affect.