Toyota is poised to increase prices by up to $1300 on 16 of its most popular models in the wake of a weakening exchange rate with the Japanese Yen – and hybrid cars are hardest hit.
However buyers can beat the 1 July price rises if they sign a deal before the end of June 30 and lock in the current RRP.
A confidential bulletin sent to Toyota dealers reveals top selling models such as the Toyota RAV4 will go up $1300, the Toyota Corolla will rise by between $560 and $1060, the Toyota Camry sedan will increase by between $700 and $1200, the Toyota 86 sportscar will soon be $740 dearer.
The Australian dollar has fallen by 16 per cent in the past 18 months, from a peak of one Australian dollar buying 88 Japanese Yen in January 2018. Today one Australian dollar buys 74 Japanese Yen, after dipping to 64 Japanese Yen in March 2020.
Toyota – and most other car makers – have ridden the wave of currency fluctuations, but now it is passing some of the cost on to buyers.
The Toyota price list shows hybrid models will rise by the greatest margin, as demand continues to exceed supply of petrol-electric variants.
The Toyota Prius – which pioneered hybrid technology – will go up by $800.
Currently the waiting list for a Toyota RAV4 Hybrid stretches up to 10 months, however Toyota has told CarAdvice it is trying to find a fairer way of allocating cars and shortening waiting lists.
Interestingly, the Toyota RAV4 and Toyota C-HR are the only models where the price for both petrol and hybrid variants will increase by the same amount (by $1300 on the RAV4 and by $750 on the C-HR).
In all other examples, the price increases for hybrid variants are $500 more than their equivalent petrol-only versions.
See the full list below:
Toyota Corolla hatchback petrol: up $560
Toyota Corolla hatchback hybrid: up $1060
Toyota Corolla sedan petrol: up $560
Toyota Corolla sedan hybrid: up $1060
Toyota Prius: up $800
Toyota 86: up $740
Toyota Camry petrol: up $700
Toyota Camry hybrid: up $1200
Toyota RAV4 petrol: up $1300
Toyota RAV4 hybrid: up $1300
Toyota LandCruiser 200: up $1170
Toyota Hiace: up $1100
Toyota Hiace Commuter: up $1100
Toyota Granvia: up $1100
Toyota C-HR: up $750
Toyota C-HR hybrid: up $750
Source: Toyota Australia.
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