Aug 20, 2008
Toyota mulls Japan price hike amid soaring costs
The soaring cost of steel has Toyota considering raising prices in Japan without a model makeover for the first time in three decades, the Japanese automaker said Wednesday.
Speculation has been rife Toyota Motor Corp. will be forced to announce higher prices in Japan _ a move even Toyota acknowledges could be critically damaging for an already sluggish Japanese market.
With steel prices surging, Nissan Motor Co. Chief Executive Carlos Ghosn has hinted he is waiting for its bigger rival to take the lead to make it easier for others to follow suit.
Read full story from The Associated Press
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