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Toyota Bumps Up Prices of Prius and Harrier Hybrids 3% in Japan
25 August 2008
Toyota Motor Corporation (TMC) increased the suggested retail prices for certain commercial and hybrid vehicles sold in Japan, effective 1 September. The MSRP of the Prius and the Harrier (the Japanese Rx 400h) hybrids will each rise by 3%.
TMC said that up to now it had been able to counter rising prices of raw materials such as steel, rare metals and crude oil through stringent cost reduction efforts carried out along with affiliated companies. 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, Toyota 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 increasing by an average of 2%.
MSRP of the S-grade Prius will increase by ¥73,500 to ¥2,383,500 (US$21,721); the MSRP of the Premium S Package Harrier Hybrid will increase by ¥136,500 to ¥4,756,500 (US$43,341).
August 25, 2008 in Brief | Permalink | Comments (3) | TrackBack (0)
Comments
Posted by: Sulleny | August 25, 2008 at 01:34 PM
Might just be the factory deciding to get their share of the dealer double markup.
Posted by: ToppaTom | August 25, 2008 at 06:11 PM
Couldn't possibly be related to inflation or raw material price rises.
Oil @ $120 per bl?
Posted by: arnold | August 25, 2008 at 08:29 PM
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Looks like the beginning of an unfortunate trend for the hybrid segment.