If you act quickly, you can save hundreds of dollars on a new Toyota or Lexus before prices increase
- Toyota and Lexus will increase prices hundreds of dollars starting in July.
- The company avoided blaming tariffs, but they likely played a role.
- Other brands like Ford and Subaru have also quietly raised prices this year.
It’s getting a bit more expensive to buy a new car, and there’s little reason to think that trend will reverse anytime soon. The 2026 Toyota Prius recently saw a $200 price bump, while the plug-in hybrid Prius Prime jumped by $400. And now, it looks like even more increases are on the horizon for both Toyota and Lexus.
According to Reuters, prices across Toyota’s lineup are set to rise an average of $270 starting in July. Lexus isn’t escaping the uptick either, though its increases will be slightly lower, averaging around $208.
More: Subaru Announces Big Price Hikes, Appears Afraid To Blame Trump’s Tariffs
While details are murky at the moment, Toyota officials denied the increases were directly related to tariffs. Instead, a spokesperson told the publication, “The latest price hike is part of our regular review of the prices.”
That being said, some companies have purposely avoided blaming tariffs for higher prices as President Trump has been known to go after firms that do. Earlier this year, Walmart revealed tariffs would force them to increase prices, which prompted Trump to say they “should STOP trying to blame tariffs as the reason for raising prices throughout the chain.” He then said the company should “eat the tariffs” and “not charge valued customers anything.”
The administration also lashed out at Amazon over a report the company would show how much tariffs added to the price of goods. While it was never implemented, the White House slammed the idea as a “hostile and political act by Amazon.”
Given that background, it’s understandable why some companies don’t want to blame tariffs even if they’re a factor. However, a number of automakers have already increased prices including Ford, Subaru, Mitsubishi, and Ineos.
