Toyota announced a price hike on their Prius in Japan. They have raised their price 3%, starting September 1st.
The new retail price of the Prius in Japan is ¥2,383,500, a ¥73,500 increase. The new price is the equivalent of $21,734 in the U.S., or a $670 price increase.
Toyota already set their 2009 model year Prius price up by $500 or 2.2%. The price increase in Japan shouldn't be surprising, then.
But what is concerning is the reason for the price increase. According to Toyota, soaring material costs are forcing them to increase their retail prices. If that's true in Japan, will it follow here in the US? Waiting lists are already long, but people are still signing up for the most fuel efficient car in the US. Even if they raised prices again, I'm thinking people will still sign on the dotted line.
And if material costs continue to rise, that's going to happen.
Monday, August 25, 2008
Toyota Raises the Price of the Prius in Japan
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