Toyota warns of price rises as profits slump again
, the marque's first EV, which was hit by recall troubles when it was launched earlier this year.
Downplaying the price rise, Masahiro Yamamoto, chief officer of Toyota Motor Corporation, added:"Every year, we have been changing prices once or twice a year, and by increasing the frequency of pricing changes, we would like to reflect those higher costs.”, when the firm reported record profits in 2021/22 despite being knocked by the Covid pandemic.
Executives warned Toyota's earnings could fall by as much as a fifth because of an “unprecedented surge” in material costs that had hit vehicle production, drivenSpeaking today, Kazunari Kumakura, Toyota's purchasing group chief, confirmed that “we're out of the worst phase, but… it's not necessarily a situation where we're fully supplied,” reports
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