Nissan boss Carlos Ghosn has indicated that Japanese carmakers will have to raise vehicle prices in response to soaring materials costs.

As price hikes have occurred despite a sales slump in the United States, automakers will have to pass on some of the cost increases to consumers in Japan as well, he said.

On Nissan’s recent agreement with Chrysler LLC for the two automakers to supply each other with cars for sale in North American and European markets, Ghosn said the two automakers may enhance their cooperation, Kyodo reported.

He also indicated Nissan’s readiness to grab any opportunities for cooperation with other automakers, the report said.