Driving the news: Toyota is raising U.S. vehicle prices by an average of $270 starting in July, despite claiming the increases aren't related to Trump's tariffs.Lexus models will see smaller bumps of $208 on average.
For context: Toyota spokesperson Nobu Sunaga insists this is just "part of our regular review of the prices," but the timing comes right after 25% tariffs hit imported vehicles and parts. Toyota had warned back in May that price increases would likely be necessary.
Why it matters: Toyota joins Ford and Subaru in hiking prices after many automakers promised to hold the line through June. The relatively modest increases suggest Toyota might be eating most of the tariff costs to stay competitive, but consumers are still feeling the pinch.
What we're watching: Other automakers will likely follow with their own "routine" price reviews in coming months. Even though companies won't directly blame tariffs, the industry-wide pattern of July price hikes tells the real story about who's ultimately paying for trade policy.
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