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Investing.com -- Toyota (NYSE:TM), the world’s largest automaker, confirmed on Monday that it will continue its operations as usual without plans to increase vehicle prices in the U.S. This announcement comes in response to the 25% tariffs on global automotive imports imposed by U.S. President Donald Trump, set to take effect on April 3.
Earlier on Monday, Japanese domestic media reported that Toyota does not intend to raise prices for vehicles sold in the United States for now, despite the impending tariffs.
In a statement, a Toyota spokesperson said, "While closely monitoring developments from U.S. authorities including tariffs, we’ll continue to work on reducing fixed costs and maintain our current operations for the time being."
The U.S. was Toyota’s largest market in 2024, with a volume of 2.3 million vehicles sold. As of now, the automaker has expressed no intention to alter its pricing strategy in response to the new tariffs, choosing instead to focus on reducing fixed costs.
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