A Toyota Tacoma is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS
Japanese carmaker Toyota Motor (7203.T),said on Saturday it will raise prices for some vehicles sold in the United States by an average of $270 starting in July.
The automaker’s decision follows U.S. President Donald Trump’s imposition of a 25% tariff on imported vehicles and auto parts. A Toyota spokesperson, however, denied the tariff directly influenced the price increase.
“The latest price hike is part of our regular review of the prices,” Nobu Sunaga, a Toyota spokesperson, said.
Prices for Lexus models, Toyota’s luxury brand, would also increase by an average of $208, he said.
Reporting by Maki Shiraki in Tokyo, additional reporting by Angela Christy in Bengaluru; Editing by Jacqueline Wong
