Toyota Raising Steel Sheet Price by 10%

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Photo: Toyota
Due to the Japanese yen’s value decrease in the last period, Nippon Steel & Sumimoto Metal Corp and Toyota Motor Corp. have agreed to raise steel sheet prices by 10 percent between April and September.
The dollar and euro have gained about 15 percent against the yen, resulting that a 10,000 yen a ton price increase will be applied retroactively to shipments. The steel sheet making company said that its margins have been squeezed in recent years as it could not pass on higher costs of raw materials.

There aren’t too much details on what the automaker will do, just that it will offset this hike in its raw material steel prices trough restructuring, instead of increasing the price on its new vehicles.

Full story at Indian Times
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