In the face of a declining exchange rate with the Japanese Yen, Toyota is set to raise prices up to $1300 on 16 of its most popular vehicles – and electric cars are hit hardest.
However consumers will avoid the price hikes of 1 July if they sign a contract before the end of 30 June and lock in the new RRP.
Toyota prices are increasing
A secret email sent to retailers shows top-selling vehicles like the RAV4 will go up $1300, the Corolla will go up between $560 and $1060, the Camry sedan will go up between $700 and $1200, and the Toyota 86 sports car will quickly go down to $740.
The legendary Toyota LandCruiser 200 Series is expected to go up by $1170 across the line, and the Hiace truck and Granvia movers are expected to go up by $1100.
Over the past 18 months, the Australian dollar has dropped. By 16 per cent from a high of one Australian dollar over January 2018 purchasing 88 Japanese yen. One Australian dollar is buying 74 Japanese Yen today. After dipping in March 2020 to 64 Japanese Yen.
Toyota – like most other car manufacturers – have been enjoying the wave of currency swings. But now some of the burden is passing on to customers.
The price list reveals that hybrid vehicles will rise by the largest margin, as production tends to overtake petrol-electric versions.
The Toyota Price – groundbreaking hybrid technology – is expected to go up by $800.
The waiting list for a RAV4 Hybrid is reportedly running for up to 10 months. But Toyota has assured CarAdvice that it is working. It is working to find a fairer way to distribute cars and shorten waiting lists.
Interestingly, the RAV4 and C-HR are the only models that will increase specifically. The price of both petrol and hybrid variants by the same amount. Which is ($1300 on the RAV4 and also $750 on the C-HR).