Toyota Prices Increasing Due to Limited Supply
Toyota has announced that production will be severely limited throughout the rest of the spring and possibly through the end of the year due to parts shortages.
This is bad news for Toyota shoppers because limited supply tends to push prices higher.
Over the next several weeks, Toyota’s U.S. plants will operate at 50% capacity until at least June 3rd.
Toyota operates 13 assembly plants in North America, producing vehicles that include the Avalon, Camry, Corolla, Highlander, and others.
Overall, about 70% of all Toyota models sold in the U.S. are made in North America.
Toyota has officially warned its 1,500 dealerships to expect shortages, especially on popular fuel-efficient models such as the Prius and Corolla.
Some Toyota dealers are concerned they will run out of inventory by the end of May or June, so don't expect great deals on Toyota this spring.
If you're wanting to purchase a Toyota and want to save as much as you can, you should do it either very soon while dealers still have supply or wait closer to the end of the year when production gets back to normal.
My Recommendation for Car ShoppersTrueCar and Edmunds are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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