Toyota might raise prices

[Ccssgm]

TOKYO - TOYOTA Motor Corp said on Wednesday that it was considering raising its prices in response to soaring material costs, following a report that it is preparing to announce hikes in Japan for next month.

According to the Nikkei business daily, Japan's top automaker has began notifying affiliated dealerships of the planned price increases.

 

It would be the first time since 1974 that the auto giant has raised the domestic prices of existing passenger vehicles, rather than waiting for the launch of new models, the newspaper said.

 

The increases of between one and three per cent are likely to apply to vehicles most affected by rising steel and raw metal prices, such as the Prius hybrid and the Dyna truck, the report said without naming any sources.

 

The price of iron ore, a vital material to make steel, has soared in recent years due to rising demand, particularly in fast-growing China and India.

 

'We are aware of the current situation of higher raw materials prices,' said Toyota spokesman Hideaki Homma.

 

He said senior Toyota officials are mulling whether to raise domestic prices in response to soaring material costs although no decision has yet been made.

 

Nissan, Japan's third largest automaker, has indicated that it is waiting for market leader Toyota to raise vehicle prices before it follows suit.

 

Toyota is a pioneer in hybrid vehicles, which reduce fuel consumption by switching between a regular engine and an electric motor.

 

The Prius line enjoys significant success in the global hybrid market so a price hike would be unlikely to affect sales significantly, analysts said.

 

A price rise for commercial trucks may have to be shouldered by vehicle dealers if they are to avoid losing business, they added.

 

Some company watchers warned that the financial benefits of a price hike were likely to be limited and could deter buyers.

 

'I am not sure if this is the risk worth taking,' said one auto analyst at a Japanese brokerage house, who declined to be named.

 

The surging raw material costs come as rocketing fuel prices and a weak economy weigh on Japanese automakers' sales, particularly of trucks and sports utility vehicles in the United States.

 

Japan's auto market is also in a slump, depressed by weak consumer spending, a shrinking population and signs that younger Japanese are losing interest in cars, particularly in big cities. -- AFP

 

Nissan and Toyota Going to Increase Car Price Again

[Ahyoo2002]

Local AD is making tons of money, ARF cut, OMV is much lower as Yen drop and yet price not much change

[Freestylers09]

infact think almost all car makers will increase..this was reported quite long ago..as said raw material increasing..bo pian also la

[Ccssgm]

[Ccssgm]

Nissan and Toyota Cheong 1st

[Garlic]

According to this news, http://www.iht.com/articles/2008/06/25/business/nissan.php

 

 

"Ghosn, speaking to reporters after a shareholders' meeting, said price increases were probably inevitable in Japan, following those already announced in the United States and Europe. He said Nissan might have to raise its prices 2 percent or 3 percent."

 

 

"Ghosn, who is also chief executive at Nissan's biggest shareholder, Renault, said he expected steel makers to initiate another round of price hike talks."

 

"And if it's not going to happen in 2008, it's going to come in 2009, and it's going to be messy," he said."

[Ccssgm]

Toyota announces price hikes

 

TOKYO - TOYOTA Motor Corp announced on Monday price hikes for some of its hybrid and commercial vehicles in Japan in an effort to cushion its profits from the impact of soaring material costs.

Japan's largest automaker said it would increase the retail price of its popular Prius hybrid by three percent from September 1. Prices for commercial vehicles will rise by 2.0 per cent on average.

 

Toyota said that so far it had been able to offset soaring material prices by cutting costs, but with such expenses expected to remain high it decided to raise the price of vehicles that use large amounts of steel or rare metals.

 

It is believed to be the first time since 1974 that the auto giant has raised the domestic prices of existing passenger vehicles, rather than waiting for the launch of new models.

 

The price of iron ore, a vital material to make steel, has soared in recent years due to rising demand, particularly in fast-growing China and India.

 

Nissan, Japan's third largest automaker, has indicated that it is waiting for market leader Toyota to raise vehicle prices before it follows suit. -- AFP

[Ccssgm]

After Toyota Price hikes for Nissan

 

TOKYO, (Japan) - HIT by soaring steel and other material costs, Nissan announced price hikes in Japan on Friday for some commercial vehicle models but held back from increases on its more crucial passenger car offerings.

Nissan Motor, Japan's 3rd biggest automaker, had been considering raising domestic prices for some time because of the soaring costs of steel and other raw materials that have battered all the world's automakers.

 

Earlier this week, Toyota, the country's biggest auto company, raised prices in Japan for its Prius and Harrier gas electric hybrids, as well as some commercial models - the 1st hike here without a model makeover in 3 decades.

 

Chief Executive Carlos Ghosn had said he hoped to take a cue on price hikes from market leader Toyota Motor. But Tokyo-based Nissan lacks comparable hybrid offerings in Japan.

 

Raising prices these days is also widely seen as risky partly because the Japanese market has been sluggish.

 

Nissan, which makes the March subcompact and Z sports car, said price hikes for passenger cars were still under consideration, but the company was still closely watching its rivals and consumer needs before it makes a decision.

 

Nissan will raise prices on several of its light commercial vehicles in Japan on an average of 2.2 per cent, effective Oct 1, including Atlas H43 and Caravan, it said in a statement.

 

Toyota's new prices showed an average increase of 3 per cent for the two gas-electric hybrid models, and an average 2 per cent for several commercial vehicles.

 

The last time Nissan raised prices on Japan commercial vehicle models without a major model makeover was in 1992, according to Nissan.

 

The last time both Toyota and Nissan ever raised prices on passenger models without such remodeling was in 1974, in the wake of what is known here as the first 'oil shock,' when crude prices skyrocketed.

 

Japanese automakers have averted some of the serious troubles of its US rivals General Motors and Ford Motor, but with a shrinking US auto demand, the global credit crunch and a jump in gas prices are starting to hurt even the more profitable Japanese manufacturers.

[Route88]

I think Honda raise price too.

[Ccssgm]

Follow By ALL Japan Car

[Silverjoe]

When will hit SG?

[Toothiewabbit]

Any free return airticket/transfers and hotel for test drive or not?

[Watwheels]

It's chicken feet compares to LTA. They dun have to lift a single finger to do a thing they easily collect at least 2 times the price of most Japanese cars. It's called the COE.

[Yeshe]

Our large inventory and wide selection of models, along with competitive pricing, allow us to make you a great deal on the Toyota of your choice. At Piercey Toyota, our goal is to assist you in making a confident decision.Whether you're shopping for a new or pre-owned vehicle, we're here to help with your search. Our well-stocked inventory includes popular Toyota models, including Prius, Corolla and Sienna.

 

Toyota Car Dealers in India

 

lol i wanna junk this bugger but the new junk feature needs me to write an essay before i can junk, WTF

[Kangadrool]

Nissan and Toyota Cheong 1st

Toyota should have better bargaining power with their size and influence on suppliers.

[Pisces69]

Any free return airticket/transfers and hotel for test drive or not?

 

 

Maybe ty pay for yr air ticket n hotel after u sign n pay but then u hv to ship the car back to SG at yr own expense.

It's chicken feet compares to LTA. They dun have to lift a single finger to do a thing they easily collect at least 2 times the price of most Japanese cars. It's called the COE.

 

Not only COE. Dun forget the ARF, Import duty n Registration fees to name a few.

 

lol i wanna junk this bugger but the new junk feature needs me to write an essay before i can junk, WTF

 

 

OK I junk him 5 points for u then. Hahaha.

[Pisces69]

 

lol i wanna junk this bugger but the new junk feature needs me to write an essay before i can junk, WTF

 

Fark the new system.

 

I tried to Junk him but then it said I need to write a reason, which I did n tried to junk him but it said I already Junked him(which I had not) so cannot Junk him until I farked 10 XMM first.

 

So sorry I cant Junk him for u.

[Maseratigood]

OK I junk him 5 points for u then. Hahaha.

Need to write essay to junk! Pls don't write an erotic essay hor.

 

Seriously, using the excuse of cost increase in material for making cars to justify their price rise is a smoke screen! Let me explain.

 

Recent years see many car makers experiencing over-capacity in car production ie they have over-invested in building big factories n expensive equipments n tools to make many cars but there's just not enough sales volumes, buyers to absorb what they can produce if their factories are running full capacity.

 

These factories are now running maybe just 70-80% of the capacity of what they can economically produce. But due to worker unions' power, these factories have to keep almost full labour strength even though there isn't enough work for them to do!

 

This is no good if the car makers want to be profitable. They can't make more cars to recoup their investments due to poor or stagnant sales. They can't lay off workers to trim costs as the unions will not allow it. No choice ----- but to find excuses to raise prices/profits.

Edited November 7, 2013 by Maseratigood