Nissan Motor is expected to raise vehicle prices in Japan following comments about soaring costs for steel and other raw materials by its chief executive.
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Carlos Ghosn said after a shareholders meeting that price increases were probably inevitable in Japan, following those already announced in the US and Europe, the Shanghai Daily reported.
He said Nissan may have to prices 2-3% and predicted that all Japanese automakers would be forced to raise prices, especially as steel costs are expected to keep climbing, although it would be hard for Nissan to be the first to do so ahead of rivals.
“In pricing, the industry has no choice,” Ghosn said. “At the end of the day, we are sure everyone is going to do it.”
Nissan, as well as Toyota and other manufacturers, have already raised the US prices of some models, the paper noted.
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