Toyota Matching Nissan and Raising Prices on Some Models

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Washington DC May 6, 2008; The AIADA newsletter reported that Toyota is raising its prices on some U.S. models later this month amid increased worries about its profit growth in the American market.

The price increases, which will start in the middle of May, include a hike of $200 on the 2008 Yaris sedan, which will cost $12,425. The 2009 Camry will go up $200 to $18,920. The hybrid Camry, introduced as a 2007 model in late 2006, will cost $300 more, at $25,650.

Toyota is also raising the U.S. prices of some Lexus luxury models.

For example, the price of the Lexus IS 350 entry sports sedan will increase $300 to $36,305. The pricing of the 2008 Lexus IS F high-performance sports sedan won't change.

MSNBC reports that Toyota faces a challenge in maintaining profits partly because of the recent decline in the dollar. Worries are also rising about how a U.S. economic slowdown may hurt sales.

Nissan already raised U.S. prices in April by $170 to $480 on models including the Versa Hatchback, Altima sedan, 350Z Roadster, and the Pathfinder SUV.

Honda said it has no plans so far to raise its U.S. prices.