Death, taxes, and rising car prices: three unending guarantees. Following quarterly regional losses and sharply increasing input costs, Automotive News reports, Toyota is planning to pass rising costs down to the consumer. The paper reports that Toyota executives just need to decide exactly how significant the increases will be. A Toyota spokesperson contacted by Car and Driver declined comment.
“We are really racking our brains trying to come up with the appropriate pricing level,” chief communications officer Jun Nagata said at Toyota’s November 1 quarterly earnings announcement. “We have begun to reflect those higher prices into the vehicle as much as possible.”