Toyota and Lexus Models Will Get a Modest Price Increase in July
Toyota and its luxury brand Lexus will increase prices on select models by an average of $270 and $208, respectively, Reuters reports. No specifics were given immediately as to which models will go up in price, but the new pricing goes into effect come July.
Related: New Mitsubishis Are Getting a Little More Expensive
Toyota spokesperson Nobu Sunaga denied that the increase had anything to do with the 25% tariff the Trump administration recently placed on imported automobiles and automobile parts. “The latest price hike is part of our regular review of the prices,” Sunaga told Reuters.
A Mitsubishi spokesperson cited a similar rationale for the price increases it announced last week. However, both companies’ price hikes come after competing automakers Subaru and Ford raised prices and explicitly called out that post-tariff increases were due to production and import costs.
Toyota’s large manufacturing footprint in the U.S. could explain how it managed to keep its average increase relatively low, as many of its popular models, including the Camry, Highlander, Sequoia and Tundra, are assembled in the U.S., per Department of Transportation labeling data. However, many of its other popular vehicles, including the 4Runner, Prius and Tacoma, along with most of the Lexus lineup save for the TX and ES, are imported into the U.S.
More From Cars.com:
- 2025 Cars.com American-Made Index: Which Cars Are the Most American?
- How Are Automakers Responding to Trump’s Tariffs?
- When Do Tariffs Get Applied to a Car Purchase?
- Which Cars Are Made Outside the U.S.?
- If Tariffs Increase Car Prices, How Else Can You Save Money?
Related Video:
Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers don’t accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments.
