Motoring

Toyota to raise US car prices by average $270 from July

Japanese carmaker Toyota said on Saturday it will raise prices for some vehicles sold in the US by an average of $270 starting in July.

Toyota, the world's top-selling carmaker, is forecast to post a 31% year-on-year drop in operating profit to ¥902bn on Thursday, according to the average estimate of seven analysts polled by LSEG.
Toyota, the world's top-selling carmaker, is forecast to post a 31% year-on-year drop in operating profit to ¥902bn on Thursday, according to the average estimate of seven analysts polled by LSEG. (Brandon Bell/Getty Images)

Japanese carmaker Toyota said on Saturday it will raise prices for some vehicles sold in the US by an average of $270 (R4,883) starting in July.

The carmaker's decision follows US President Donald Trump's imposition of a 25% tariff on imported vehicles and car parts. A Toyota spokesperson, however, denied the tariff directly influenced the price increase.

"The latest price hike is part of our regular review of prices," said Nobu Sunaga, a Toyota spokesperson.

Prices for Lexus models, Toyota's luxury brand, would increase by an average of $208 (R3,761), he said.

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