Canon Price Increases
Well, given the state of the US economy and the weakness of the US dollar against the Japanese Yen (and most other currencies), it had to happen. Canon have informed their USA dealer network that effective May 1st 2008 there will be a price increase to dealers. I'm sure this will then be passed along to customers. Canon Canada are following suit on May 5th.
There will be a 3-5% price increase on most lenses and on all EOS and powershot accessories, as well as binoculars. The good news is that the dealer price on digital SLR bodies will be unchanged (though of course dealers could raise their price if they want to). There's no mention of price changes on Powershot cameras either, just Powershot accessories. EOS accessories cover things like grips, batteries, speedlites, filters, lens hoods, remote releases etc. Pretty much anything that's not a camera body or a lens.
So if you were waiting for the Canon Spring rebate program to be announced, you might not want to wait much longer, and in fact you might want to buy that lens you've been looking at before May 1st. Of course it's still possible that there will be a Spring rebate program, though rebates on the new prices may be no better than the old prices. I'd say that this announcement makes a lens rebate program for the US look somewhat less likely this spring. Not impossible, but if Canon are raising lens prices because they're not making enough money on them, it's hard to see how they could then turn around and simultaneously offer rebates. I suppose they could if they though they'd make up in volume what they lost in profit per lens, but it would be a little odd. Time will tell.
Note that Canon are saying that there will be 3-5% price increases on MOST lenses, not all lenses, but it remains to be seen just how many lenses (and which lenses) won't see a price jump. My guess is that the "L" lenses and more expensive non-L lenses will see an increase. Canon may hold prices down on lenses like the 18-55is and 55-250is in order to stay more competitive in the entry level market where competition is fierce and they are battling against offereings from Sony, Pentax and Olympus which offer in-body image stabilization.
When will the retail price rise? Well, in theory it should probably be when the dealers have sold their existing stock of lenses, but my guess is that many will raise their prices sooner than that.
Canon regional companies set their own prices, so this isn't a worldwide price increase. So far it's just the USA and Canada. Canon Europe, Canon Asia etc. will set their own pricing policies.
Links to articles on Canon Lenses and Accessories
- The BEST Canon EOS Lenses
- The best VALUE lenses for Canon EOS
- Canon EOS Macro Lenses
- Canon EOS Portrait Lenses
- Canon EOS Telephoto Lenses
- Canon EOS Wideangle Zooms
- Canon EOS Speedlites