Toyota is eyeing price rises for the Prius hybrid, luxury models like the Crown and Lexus in its Japanese home market to help offset higher material costs, an executive told the Yomiuri Shimbun newspaper.
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The report said the company planned to raise prices by the end of the year. A unnamed Toyota executive said the steep materials cost rises could not be offset by cost cuts. Sources told the paper prices would be raised by 1-3%.
The paper said such rises would be the first time since 1992 that Toyota hiked prices without an accompanying model update.
