Toyota to lift prices in January

[Sprint XR8]

A weaker Australian dollar will force Toyota Australia to lift prices across its imported vehicle range in January, the company says.

The company said prices would rise by an average of 2.4 per cent, adding about $500 to a budget Yaris model but more than $3,700 to top-of-the-range Landcruiser Sahara.

The only models spared the price hikes will be Toyota's locally built Camry and Aurion cars.

Toyota's senior executive director of sales and marketing, David Buttner, said the price increases were forced by 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 on Tuesday.

"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 locally built cars had been protected from the price increases as a strong show of support for the Australian manufacturing operations from Toyota's Japanese parent.

Despite uncertainty in credit markets, Mr Buttner said Toyota buyers could be confident that financing was available.

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

"The rest of our network also has solid arrangements in place with large Australian or global institutions."
http://news.theage.com.au/national/t...1202-6pki.html

[Smoke Pursuit]

makes alot of sense when they are struggling to sell them now...

[Wretched]

I guess the micro margins they have on their cars is affecting their profits.

[SM1DY]

i guess if your going to pay 100+k for a vehicle an extra $3700 would be much of a hit to the back pocket!

[Redrum]

Ford is lifting their prices in January 2009 also

[SM1DY]

Originally Posted by Redrum

Ford is lifting their prices in January 2009 also

On all their vehicles or just the imports like Toyota?

[Redrum]

Originally Posted by SM1DY

On all their vehicles or just the imports like Toyota?

Not entirely sure, but the dealership I spoke to knew I was looking at an FPV F6 product and gave me warning, so I would say across entire range.

[irlewy86]

Originally Posted by Redrum

Not entirely sure, but the dealership I spoke to knew I was looking at an FPV F6 product and gave me warning, so I would say across entire range.

A lot of the steel prices that were under contract are going to skyrocket for the first 6 months of 09. A lot of local manufacturers and importers are going to be stuck with higher costs, weaker dollar and a softer market. Recipe for disaster really.

[Rodp]

Originally Posted by Redrum

Not entirely sure, but the dealership I spoke to knew I was looking at an FPV F6 product and gave me warning, so I would say across entire range.

That's dangerous in the current climate...

[Polyal]

Originally Posted by Redrum

Ford is lifting their prices in January 2009 also

Id be surprised if there is an industry that isn't. 90 cents to 65 odd is a massive difference.

[joolz]

Just recently the alloy components for the BFIII wagon driveshaft increased by approximately $50.00 but this price increase cannot be passed onto Ford so we just have to absorb it. Its mainly due to the AU$ decreasing.

[uranium_death]

I think it makes good sense, as their best selling vehicles are imports.

It's a harsh climate out there now, and the consumer has to bear the brunt of it.

It happens with milk, it happens with bread, and it also happens with cars.

[Rodp]

Originally Posted by uranium_death

I think it makes good sense, as their best selling vehicles are imports.

It's a harsh climate out there now, and the consumer has to bear the brunt of it.

It happens with milk, it happens with bread, and it also happens with cars.

Bread and Milk are almost considered necessities, those that may be considering an upgrade certainly might reconsider on a price rise in this climate. I can also see businesses extending their corporate fleet to try and ring out a few more k's out of their cars.

[Redrum]

I have just been told by dealer that FPV will not be raising their prices in January. Good news for me.

[Bossxr8]

Funny how the highest seller and most likely the most profitable of all the manufacturers is the first one to raise their prices. Sucks to you Toyota.

[Smoke Pursuit]

Originally Posted by Redrum

I have just been told by dealer that FPV will not be raising their prices in January. Good news for me.

Buy an 08 plate car and save an extra 5 kay.

Wont matter if ford raise retail, just means they will have to increase bonus / discounts.. They are struggling now, but i doubt we will see the abundants of stock in 2009..

[Bossxr8]

Originally Posted by bfiipursuit

Buy an 08 plate car and save an extra 5 kay.

Wont matter if ford raise retail, just means they will have to increase bonus / discounts.. They are struggling now, but i doubt we will see the abundants of stock in 2009..

Ford have done well in clearing stock but cutting production. It will be well down after the 5.5 week Christmas shutdown.

[Redrum]

Originally Posted by bfiipursuit

Buy an 08 plate car and save an extra 5 kay.

Wont matter if ford raise retail, just means they will have to increase bonus / discounts.. They are struggling now, but i doubt we will see the abundants of stock in 2009..

There is no 08 plate car with specs I want. I doubt I will save 5k, unless they suddenly throw some sort of discount on F6's. I pad $4500 more than what an employee will currently pay on an F6. I am happy with that.

[robjh80]

Aust Car Dealers are going to be in such a bad way next year

Sales are plummeting now, how the hell are they going to sell them next year when they put the prices up!, particularly in the early months when everyones getting over xmas and excessive spending on credit cards etc.

Throw in the mix the problems dealers now have obtaining credit for floor stock with GMACA and GE Money pulling up stumps, I reckon next year is going to be very interesting indeed.

[mr smith]

They can advertise at whatever price they like, will they get it? I will say no, too many good second hand cars out there and new models to run out.

[xtremerus]

Toyotas 2.4% increase will be the start of many small increases to make up the larger AU/Yen difference.
Euro cars will have the same problem.

[GS608]

so when the import tariffs go down this will level out some?