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Toyota Australia to Increase Prices from 1st of January

December 3rd, 2008
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Toyota Australia has advised its dealers that new-vehicle recommended retail prices will increase from 1 January 2009 due to adverse currency movements.

Price increases will average 2.4 per cent or about $900 across the range with variations by model and by grade.

The recommended retail prices of Toyota's smallest car, Yaris, will rise by up to $800 with most models increasing $500.

On the top-selling Corolla, the increases will range up to $750, on Prado up to $2000, while a top-of-the-line LandCruiser Sahara petrol model will rise by $3,773.

Recommended retail prices for locally manufactured four-cylinder Camry and V6 Aurion models will not change.

The metallic paint option on these models will rise $25 to $400; on most imported models, metallic paint will rise to $350 or $400 (or higher on models affected by the luxury-car tax).

Toyota Australia senior executive director sales and marketing David Buttner said the price increases were due to a dramatic fall in the value of the Australian dollar.

"The Australian dollar has weakened against the yen by more than 35 per cent in the past three months," Mr Buttner said.

"The current rate is more than 20 per cent below the long-term average of around 79 yen - and we do not expect it to recover to any great degree in the near future.

"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."

Mr Buttner said the company's Australian manufactured models had been protected from this round of price increases.

"That is a significant indication of our parent company's support for our local operations and for the sale of these cars in the domestic and export markets."

Mr Buttner said Toyota wanted to send a message to customers that financing remains available from Toyota dealers despite the troubles in the credit markets.

"We want to get consumers to visit their Toyota dealership and to understand consumer financing and leasing is certainly available through Toyota.

"Almost 85 per cent of Toyota dealers source credit through Toyota Finance, whose debt is rated Triple A by Standard & Poor's and Moody's.

"The rest of our network also has solid arrangements in place with large Australian or global institutions," he said.

MODEL

PRICE INCREASES

Yaris

Up to $800

Corolla

Up to $750

Prius

Nil

Camry

Nil

Aurion

Nil

RAV4

$500

Kluger

$1,051 to $1,500

Prado

$592 to $2,000

LC200

$2,662 to $3,773

Avensis

$1,000

Tarago

$616 to $1,750 (from 9 February)

LC70

$1,100 to $1,500

HiLux 4x2

Up to $750

HiLux 4x4

Up to $1,700

HiAce commuter

$2000

HiAce van

$700 to $1,000

Coaster bus

$2,500


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