.Toyota is planning price hikes, still deciding how high to go:
It's common for new-vehicle MSRPs to increase by amounts at least by a few hundred dollars every year, and in some years, to see an increase midyear. One solution Toyota is looking into, according to the report fromAnother method of raising prices that a lot of automakers, including Toyota, have been using recently is to drop base models, effectively raising the price of entry.
Dropping the base option generally means losing the car with the lowest profit margin for manufacturers. It also effectively raises the floor of ownership for buyers. According to the report, consumers' expectations of pricing is one of the factors Toyota executives are using to gauge increases. The warning of impending price increases came during a quarterly earnings announcement on November 1. According to the report, the company needs to make adjustments to offset regional operating losses for the North American arm of the company.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Ledger: How Much More Revenue Can Streaming Price Hikes Bring?If Spotify follows Apple Music’s decision to raise music subscription prices, hundreds of millions of additional dollars will flow to services, rights holders and creators.
Read more »
Sling TV now costs $40 a month, the fourth price hike in five yearsLike Netflix, Dish’s TV streaming service has doubled in price since day one.
Read more »
Powell: Rate hikes may slow, but inflation fight hardly overFederal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections
Read more »
Asian markets fall after Fed says more rate hikes are likelyAsian stock markets tumbled Thursday after the Federal Reserve added to recession fears by saying it wasn't finished raising U.S. interest rates to cool...
Read more »