Toyota will increase US car prices by $270 on average starting in July

Toyota Motor (7203.T), a Japanese automaker, announced on Saturday that it will increase the average price of some cars sold in the US by $270 beginning in July.

The move by the automaker comes after US President Donald Trump imposed a 25% tariff on imported automobiles and auto parts. However, a Toyota representative denied that the levy had a direct impact on the price hike.

Toyota spokeswoman Nobu Sunaga stated, “The most recent price increase is a part of our regular review of the prices.”

He added that the average price increase for Toyota’s luxury brand, Lexus, would be $208.