- Toyota models will see an average $270 price hike in July
- Lexus prices will go up by $208 on average
- The company says the move is not a result of U.S. car tariffs
Toyota and its Lexus luxury division will raise the price of the average car in July, according to Reuters. Toyota models will see a $270 average price increase, while Lexus prices will rise by an average of $208.
Toyota spokesperson Nobu Sunaga confirmed the news, saying, “The latest price hike is part of our regular review of the prices.” The company says it’s not a response to new car tariffs.
Several automakers have raised prices in response to 25% levies on new cars and car parts entering the United States. Ford, for instance, increased the prices of some Mexico-built models by up to $2,000 in May.
Hyundai is reportedly considering a 1% across-the-board price hike this summer.
Related: How Each Automaker Is Responding to Tariffs
But Toyota’s move is comparatively small, and believably a simple response to inflation.
The company’s U.S. dealers have kept unusually slim inventories through much of 2025. That can leave shoppers with limited selection, but it has let dealers continue brisk sales without the hefty incentives some rivals add to move stock off the lot.