Toyota to raise US auto prices by average $270 from July

June 20 (Reuters): Japanese carmaker Toyota Motor (7203.T) said on Saturday it will raise prices for some vehicles sold in the United States by an average of $270 starting in July.

The automaker’s decision follows US President Donald Trump’s imposition of a 25% tariff on imported vehicles and auto parts. A Toyota spokesperson, however, denied the tariff directly influenced the price increase.

“The latest price hike is part of our regular review of the prices,” Nobu Sunaga, a Toyota spokesperson, said.

Toyota chairman to face scrutiny over $33 billion deal at shareholder meeting

Prices for Lexus models, Toyota’s luxury brand, would also increase by an average of $208, he said.