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Monday, 1st September 2008
In Business In Japan,

Nissan to raise prices

Car manufacturer Nissan is increasing the cost of its commercial vehicles in Japan.

Nissan, Japan's third largest auto company, has not yet raised prices on its passenger cars but it is likely that the increasing pressure on steel and material prices will mean more price increases over the next few months

In addition to this, there will be a 2.2 per cent rise on the cost of its commercial models.

"The pricing action has been taken as a consequence of rising costs of raw materials, particularly the impact of rising steel costs," said a statement from Nissan.

The country's main steel producers, Nippon Steel and JFE Steel, revealed last month that they had agreed a new contract with miners that involved doubling the price of iron ore due to strong global demand.

Last week, Toyota raised prices for a number of commercial vehicles and on some of its hybrid models.

Related news stories:
Nissan wants to put self-driving cars on Japan's roads by 2016 (9th April 2015)
Nissan vice chairman: 'electric vehicle not viable replacement' (5th February 2013)
Nissan and Mitsubishi join forces to produce minicar (11th June 2013)
Nissan to increase production (21st September 2010)