Toyota Motor Corp.is the world's second-biggest automaker by annual vehicle sales.
They have just announced that they are raising its prices on some U.S. models later this month amid increased worries about its profit growth in the American market.
Toyota has reported that the Toyota Division posted April sales of 194,350, a decrease of 2.7 percent from last April. The Lexus Division reported April sales of 23,350 units, a decrease of 17.1 percent from the year-ago month.
The price increases will start in the middle of May, include a hike of $200 on the 2008 Yaris sedan, boosting the cost of the base model to $12,425, with higher prices for models with extra features. The 2009 Camry will go up $200, to $18,920 for a model without any extras .
The base hybrid car Camry, introduced as a 2007 model in late 2006, will cost $300 more, at $25,650, Toyota said.
Like other Japanese automakers, Toyota is enjoying sales growth while American automakers are struggling. Soaring gas prices have increased demand for smaller, fuel-efficient cars that Japanese automakers are reputed for.
Source: By Money Scoop Blog
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