Toyota to Adjust Retail Prices on Select Vehicles in Japan
Tokyo — TOYOTA MOTOR CORPORATION (TMC) announces changes to its suggested retail prices for certain commercial and hybrid vehicles sold in Japan, effective September 1, 2008.
Until now, TMC has countered soaring prices of raw materials such as steel, rare metals and crude oil through stringent cost reduction efforts carried out along with affiliated companies. This has allowed TMC to avoid increasing retail prices of vehicles in Japan. However, recent further price increases in raw materials have been larger than TMC’s cost reduction efforts are able to offset, and with prices expected to remain high, TMC has decided to adjust its suggested retail prices for commercial and hybrid vehicles, which use large amounts of either steel or rare metals.
The suggested retail prices for commercial vehicles are to increase by an average of 2%, or 29,100 yen per vehicle, and for hybrid vehicles by an average 3%, or 76,800 yen per vehicle. The new prices for the main grade of each vehicle are listed below.
Source:TOYOTA MOTOR CORPORATION
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