Mitsubishi Motors (7211.T) said on Tuesday it was hiking prices of U.S. vehicles by 2.1% on average, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration's tariffs.
President Donald Trump in April imposed 25% tariffs on car imports from Japan and nearly all other countries, prompting Mitsubishi to suspend deliveries from ports to U.S. dealers. The Japanese automobile manufacturer said it resumed those deliveries last week.
The 2.1% average sales weighted price hike effective Wednesday "is a direct result of our regular and ongoing review of pricing in order to ensure we are in-line with segment expectations," Mitsubishi said.
Mitsubishi's U.S. sales in the first three months of 2025 were up 11% after sales in 2024 were 110,000, up 26% and the brand’s best U.S. sales performance since 2019.
The company told dealers that the price hikes on suggested retail prices would not impact vehicles in showrooms currently.
The company also said it was making "significant global investments in new vehicles and new technologies." It cited "updates to the new 2025 Outlander, recent announcements about a new battery EV coming to the U.S. and the study of joint-development with Nissan (4021.T) of a new vehicle to be built in the U.S. in the coming years."
Trump said last week that he may again soon hike auto tariffs.
Last month, Subaru of America hiked prices on several models between $750 and $2,055 depending on the model and trim, in response to "current market conditions."
Ford Motor (F.N) in May raised prices on three models produced in Mexico by as much as $2,000, becoming one of the first major automakers to respond to Trump's tariffs.
