Toyota Raises Prices For Toyota, Lexus Hybrids
By Danny King November 30, 2011
Toyota raised prices on one Toyota hybrid model and two Lexus hybrids for the 2012 model year. The largest maker of U.S. hybrids hiked the price on the Toyota Highlander Hybrid by $400, and by $500 each for the Lexus CT 200h Premium hatchback and Lexus LS 600h L luxury sedan, the company said in a statement this week. The new prices mark an 1.1 percent increase to $38,540 for the base Highlander Hybrid, a 1.6 percent increase to $31,750 for the CT 200h Premium and a 0.5% hike to $112,750 for the LS 600h. The price on the base Lexus CT 200h wasn't changed.
The Japanese automaker is looking to take advantage of an improving U.S. economy, gas prices that are likely to continue rising and a supply chain that's returning to normal after the March earthquake and tsunami that struck Japan shut down or hampered many of the company's plants for much of the year. Toyota's U.S. hybrid sales through October were down 12 percent from a year earlier, though the company closed slightly to an 11 percent decline for the month of October alone, according to data compiled by Edmunds.com. Toyota sold almost 3,700 Highlander Hybrids year to date, while just 70 Lexus LS 600h L vehicles. The company through October sold more than 104,000 Prius hybrids, by far the most popular U.S. hybrid.
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