The 3 key takeaways
- Toyota predicts average new car prices to exceed $50,000 in 2023 due to increasing costs of materials, labor, and supply chain disruptions.
- The company has already raised prices multiple times to cope with these challenges, but maintains its commitment to producing affordable vehicles.
- Despite the rising prices, Toyota’s robust sales figures indicate strong consumer demand, with the automaker continuing to invest in new technologies and models.
Source: https://worldnewsera.com/automobile/toyota-says-50000-plus-average-new-car-prices-coming-this-year/