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Toyota to raise U.S. car prices by 0.81 pct

Sat Jul 26, 2008 1:51am EDT
 
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TOKYO, July 26 (Reuters) - Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz), the world's largest automaker, said it will raise the prices of its 13 models, including Scion vehicles, in the United States by an average $181 or 0.81 percent.

Auto manufacturers around the world have been trying to pass on rising costs of raw materials with price increases.

Prices of the popular Prius gasoline-electric hybrid will increase by an average $500 or 2.2 percent to range between $22,000 and $24,270, Toyota said.

Rival Honda Motor Co Ltd (7267.T: Quote, Profile, Research, Stock Buzz) on Friday reported quarterly earnings that beat market expectations, but it cut its annual profit and global car sales forecasts as it battles with soaring materials prices and a crumbling U.S. auto market. (Reporting by Kiyoshi Takenaka; Editing by David Fogarty)

 

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