.Toyota is planning price hikes, still deciding how high to go:
It's common for new-vehicle MSRPs to increase by amounts at least by a few hundred dollars every year, and in some years, to see an increase midyear. One solution Toyota is looking into, according to the report fromAnother method of raising prices that a lot of automakers, including Toyota, have been using recently is to drop base models, effectively raising the price of entry.
Dropping the base option generally means losing the car with the lowest profit margin for manufacturers. It also effectively raises the floor of ownership for buyers. According to the report, consumers' expectations of pricing is one of the factors Toyota executives are using to gauge increases. The warning of impending price increases came during a quarterly earnings announcement on November 1. According to the report, the company needs to make adjustments to offset regional operating losses for the North American arm of the company.
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