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.
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