Starting in July, Toyota prices will rise by $270, while Lexus models will see a $208 increase
Toyota is set to raise prices by an average of $270 starting in July, with Lexus models also seeing a $208 increase. According to a company spokesperson, the hikes are part of a routine pricing review and not directly tied to potential tariffs.
Still, Toyota has previously warned that tariffs—especially on imported parts—could drive up costs across the board. COO Mark Templin emphasized that global supply chains are fragile and tariffs would likely raise vehicle prices, reduce sales, and make repairs more expensive.
Meanwhile, Toyota may shift production of the next-gen RAV4 to Kentucky, possibly avoiding some tariff-related costs. The RAV4 remains a key model, having been the best-selling SUV in the U.S. last year with over 475,000 units sold.
Toyota isn’t alone. BMW, Volkswagen, Ford, Subaru, and Volvo have all announced or already implemented price increases—some as high as $2,500—citing rising production and tariff-related costs.
