Lexus, Toyota models to get modest price bump in US starting July
PLANO, Texas: Toyota Motor will raise prices across a range of vehicles in the United States starting next month, the Japanese automaker confirmed over the weekend. The average price hike will be US$270 per vehicle, with luxury Lexus models set to rise by $208.
The decision comes as the auto industry navigates rising input costs and geopolitical pressures, including the impact of U.S. tariffs on imported vehicles and auto parts. However, Toyota has denied that the latest price adjustment is a direct response to new trade measures.
"The latest price hike is part of our regular review of the prices," said Nobu Sunaga, a spokesperson for Toyota.
President Donald Trump recently imposed a 25 per cent tariff on imported vehicles and auto components, a move aimed at boosting domestic manufacturing. While analysts expect the new duties to put upward pressure on prices for foreign brands, Toyota has downplayed the link in this instance.
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