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Lexus Announces Price Increase on Several '04 Models


04/09/2004 Torrance, CA



Lexus announced a price increase today for six of its 2004 models.

The manufacturer's suggested retail price (MSRP) for Lexus' full-capability luxury SUV, the LX 470, will increase 0.5 percent, or $300, to $64,475. The GX 470 mid-size luxury SUV, will increase 0.2 percent, or $100, to $45,375. The MSRP for the all-new second-generation RX 330 mid-size luxury SUV will increase $100, a 0.3 percent change, to $35,275 and $36,675 for the front-drive and all-wheel drive models, respectively.

The Lexus LS 430 flagship sedan will increase 0.5 percent, or $250, to an MSRP of $55,375. The MSRP for the GS 300 performance sedan will increase 0.4 percent, or $150, to $38,875, while the GS 430 will increase 0.3 percent, or $150, to $47,975. And, the SC 430 will increase 0.5 percent, or $300, to an MSRP of $62,875.

The price changes are effective as of April 1, 2004.

Weak dollar maybe?:(

Could even be caused by oil costs for transporting the vehicles by ship from Japan.

Probably a combination of the two, weak dollar & higher oil prices, as well as the soaring prices for steel, eventhough Toyota locked up long-term deals with a set price. I am sure there is pressure on them at various points for the price of steel as they may have had deals come up for renewal, etc. Show me a luxury car maker who hasn't increased prices in the past year.

The Euro has increased even more percentagewise against the US$. Had the Bank of Japan not sold trillions of Yen in the currency market to prop up the dollar against the yen to protect its export led recovery, the exchange rate would at least be 95 to the dollar by now.