Toyota Raises Prices – Yep, That Same Excuse
Ok, since I was accused (rightfully so) of picking on just GM for this, Toyota has also used the “rising materials cost” excuse for raising prices on some models.
A Toyota spokesman said:
“Price changes were made to keep up with current economic conditions and the rising cost of major components… Materials in global markets have gone up. We have made an effort to absorb some to the cost while still protecting our price position.”
Don't get me wrong — companies are allowed to raise prices. It's their choice based on their view of the market. I'll quit beating this drum, but it fascinates me that it's socially acceptable to give the “our costs went up” reason.
We don't hear as often of price reductions because raw material costs go down (well, maybe except in the electronics industry where technology is moving fast…) Has this ever been offered as a reason to cut prices in the auto industry? Let's keep the discussion there.
What do you think? Scroll down to comment or share your thoughts and the post on social media. Don't want to miss a post or podcast? Subscribe to get notified about posts via email daily or weekly.
- Alternative History: Toyota's CEO Accelerates Lean Healthcare Improvement in the 2000s - February 7, 2023
- When Burnout Turns to Moral Injury for Healthcare Clinicians - February 6, 2023
- Jody Crane, MD: Lean in Emergency Medicine and Hospitals; 3 Big Issues Causing Tough Times in Healthcare - February 1, 2023