ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, July 20, 1996 TAG: 9607220048
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
DATELINE: AUBURN HILLS, MICH.>
Chrysler Corp. and Toyota Motor Corp. passed on the bad news of price increases Friday.
Chrysler said it will charge an average of 1.9 percent, or $422, more for its 1997 vehicles in a move to boost profits and help offset the cost of rebates on slow-selling cars.
The new prices are effective as early as August, when some 1997 models reach dealer showrooms.
Prices on some of Chrysler's most popular vehicles will rise by more than twice the average increase, when compared with last year's models.
The luxury Town & Country LXI minivan, for example, will cost $1,185 more, or 3.9 percent, for a base price of $32,045, including delivery charges.
Prices on Dodge Ram pickups, Chrysler's most popular vehicle, will rise about $515, or 2.8 percent, to $19,190 for the Club Cab model with two-wheel drive.
The new Jeep Wrangler, which was introduced in January, has a price increase of $485, or 3.7 percent, to $13,995 for the base model.
Toyota will charge $184, or 0.9 percent, more for its 1997 Celica, after cutting the price of the 1996 model.
As of July 22, the ST coupe will start at $17,548, including delivery charges. Last year, Toyota lowered the price by $700.
The price increase reflects the market, the automaker said.
Celica sales in the first half dropped 31 percent to 8,591, compared with the first half of 1995. The decline reflects a drop in demand for all sport coupes, a Toyota spokesman said.
Celica maintained its market share of 2.6 percent, the spokesman said.
- Bloomberg Business News
LENGTH: Short : 40 linesby CNB