JAPAN: Toyota Motor Corp. will raise prices of some vehicles it sells in the US by more than US$200 starting next month.
Some Toyota- and Lexus-branded models will see their prices raised by an average of $270 and $208, respectively, Nobu Sunaga, a spokesman for the Japanese carmaker, said in an email on Saturday (June 21).
The move is a part of a regular revision and new prices are determined based on factors including market conditions and competition, he said, without giving more details.
The revision comes after Mitsubishi Motors Corp. announced raising the US prices for three models this month, also citing a regular adjustment to factor in inflation.
Japanese carmakers rely heavily on imports to supply the US market, and have been grappling with the fallout of President Donald Trump’s tariffs on imported cars and parts.
Kyodo reported Toyota’s price hike earlier. - Bloomberg
