Toyota raises prices on 5 models

[March 31, 2012]  DETROIT (AP) -- Toyota says it is raising prices on five Toyota and Scion models by up to 1.5 percent.

Affected models include the Camry sedan, Prius v gas-electric hybrid, Highlander hybrid SUV, Tacoma pickup and Scion tC small car.

Toyota says the increases are due to overall business conditions but wouldn't give details. Automakers generally raise their prices when their costs and their competitors' prices rise.

The increases range from $50 on some versions of the Camry to $270 on the top-line Camry XLE V-6. The Camry is the most popular car in the U.S. with sales of more than 308,000 vehicles last year.

Toyota says the new prices will begin with cars built during the month of May.

[Associated Press]

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