Toyotas Will Cost An Average $270 More Starting Next Month
Lexus models aren't excluded; they'll see an increase of $208 on average, too.
Toyota on the weekend announced that American prices of its cars, trucks, and SUVs will be going up. Per Reuters, for all vehicles produced from July 1 onward, prices will raise an average of $270. Sister brand Lexus isn't immune to these hikes either, though the price increase is a slightly lower $208 on average.
While the price increase comes after months of varying tariffs from US President Donald Trump—currently there is a 25-percent tariff on imported automobiles and automotive parts—a Toyota spokesperson denies that this is the reason for the inflated stickers. "The latest price hike is part of our regular review of the prices," said Nobu Sunaga in an email. Fair enough: Toyota has altered prices mid-year before, so this itself is not new. It does come mere days after the company raised its destination charges, however.
Whether or not price hikes are attributed to the ongoing tariffs, we're seeing plenty of them across the industry. BMW will be raising the prices of all its vehicles, some by as much as $2,500, starting July, according to CarsDirect. Ford has also had to raise prices on the Mexico-built Maverick, and the company told Motor1 tariffs were at least partly to blame.
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Kyle began his automotive obsession before he even started school, courtesy of a remote control Porsche and various LEGO sets. He later studied advertising and graphic design at Humber College, which led him to writing about cars (both real and digital). He is now a proud member of the Automobile Journalists Association of Canada (AJAC), where he was the Journalist of the Year runner-up for 2021.
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Consumers across the nation need to stop buying new vehicles for one month. This will cost the automobile industry billions in lost revenue and force them to lower their prices.