The Global Financial Crisis has claimed it’s first genuine scalp in the local motor industry. The falling value of the Australian dollar against the Yen has seen Toyota Australia announce pricing increases on all of its imported models, with the exception of the Prius. The average increase on affected models is about 2.4 per cent. The new pricing regime will take effect on 1 January 2009.
Toyota Australia senior executive director sales and marketing David Buttner commented, “The Australian dollar has weakened against the yen by more than 35 per cent in the past three months.
“In the past year, there have also been steep increases in the prices of raw materials, such as steel. In the light of all these pressures, we believe the increase of 2.4 per cent from the start of the new year is extremely modest.”
Volume sellers such as the Yaris and Corolla will be affected by as much as $800 and $750 per model respectively. While the Kluger (up to $1500) and Prado (up to $2000) are at the higher end of the increases.
Pricing of Australian built Camry and Aurion models will not be affected. Toyota’s full press statement can be read below.