Toyota’s six models to become more expensive

Toyota’s six models to become more expensive

Japanese auto giant Toyota Motor Corp. has announced that it would hike prices of its six models starting with vehicles manufactured in May this year.

Depending on the model, the midyear hike of $90 to $250 on six models will represent an increase of 0.3 per cent to 1.5 per cent from their current prices.

The models that will become more expensive are: the 2012 Toyota Prius v, Highlander Hybrid, Camry, Camry Hybrid, Tacoma pickup truck and the 2013 Scion tC.

All of the six models are known for their fuel-efficiency. Higher fuel prices have provided a big boost to their sales over the recent months in the United States.

The announcement of price hike comes as auto companies are expected to announce strong sales for March in the country.

Hyundai is taking a different approach. Instead of increasing prices of its different models, it is hacking discounts.

Instead of raising sticker prices, the automaker is reducing discounts

Jesse Toprak, an analyst at TrueCar. com, said, "We forecast that Chrysler, Ford, GM, Honda and Toyota will have an extremely strong month, with some of the highest unit sales in years."

Stronger-than-expected recovery in the manufacturing sector prompted analysts to increase their sales forecast by another 3.6 per cent, from 14.0 million units to 14.5 million units for the current year.

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