Buying A New Toyota? Better Do It This Month
Bad news. If you're waiting to buy a new Toyota, you may want to get a move on. According to Reuters, both Toyota and Lexus will be hiking prices from next month. The good news is that the prices will increase by a relatively small amount, with Toyota MSRPs to rise by an average of $270 and Lexus prices to be increased by an average of $208. Interestingly, a spokesperson told the publication that these new increases aren't a response to President Trump's sweeping 25 percent tariff on imported vehicles. Perhaps they aren't directly so, but one can't help but wonder how significant the increases, if any, might have been with less uncertainty over future U.S. trade policy.
Unclear Which Models Will Be Affected
Source: Toyota
'The latest price hike is part of our regular review of the prices,' Toyota spokesperson Nobu Sunaga said. Historically speaking, we can't argue with that. Price adjustments come from every automaker every year, and a mid-year bump of a couple of hundred dollars is not unusual. However, Toyota's own comments on tariffs indicate that they may have played a role in this increase, or at the very least will impact future pricing strategies. Last month, the automaker told Autoblog that the tariffs may put many products 'out of reach for a lot of Americans,' which tells us that Toyota won't be able to keep its price adjustments to this minor level for long without new strategies.
Toyota Is Working On U.S. Production
Toyota never sits on its hands, and it's not doing so now. According to a separate report from Reuters published in April, Toyota is considering producing the new RAV4 in Georgetown, Kentucky, from 2027. The current model is produced in Kentucky, Canada, and Japan, but the new model was meant to be imported to America from either of the latter two regions. Now, the RAV4 may return to Kentucky to meet demand, though Toyota has yet to confirm or deny this claim. Whatever happens next, pricing increases are not likely to slow down anytime soon, no matter which brand you favor. Mitsubishi prices recently saw an unexpected bump, premium automaker BMW is set to do the same, and even the automotive giant that is Hyundai says it can't shield buyers from price adjustments forever.
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