Toyota Price Hike: Here’s How Much More Expensive The Cars Will Be
Tariffs, rumors of tariffs, international tensions, and a number of other events in the news cycle have a lot of people speculating about how that will affect car prices. Naturally, Toyota, one of the largest automakers in the world and an incredibly popular brand in North America, is the target of a lot of wondering. Unfortunately for the American car buyer, Toyota prices will be going up. Fortunately, it’s not by a lot. Reuters reports that, across the board, the average price of an new Toyota will increase by $270.
It’s important to note that both Reuters and Toyota report that the price increase is not directly related to the Trump administration’s tariffs and it’s more of a regular price increase. It’s also reported that Lexus’s prices will go up an average of $208 across the lineup. The modest price increases, especially for Lexus, a higher end luxury brand, indicates that the increase might just be the cost of doing business in 2025 and not part of a larger trend of attempting to shuffle around the tariff cost.
Hopefully not a sign of things to come
Toyota stakes its name on making affordable, reliable vehicles for the widest strata of humanity, from a high tech and efficient Prius to a wild off-roader TRD Pro 4Runner. $270 on a $40,000 car isn’t really going to make much of a difference for the brand’s hard-fought reputation, but it isn’t a no news event. Hopefully, the timing of Toyota’s announcement is just coincidental, and it doesn’t start a wave of other automakers hiking prices. The average new car is already a hefty chunk of cash, and this doesn’t ease the burden.
As of now, Toyota’s press site doesn’t make any mention of the price increases, and Reuters reports that the changes should start rolling out in July. In the meantime, if you want to save a few hundred dollars on a new Toyota, it might be worth visiting the dealership sooner, rather than later. In these tumultuous automotive times, anything can happen with regards to price.
