Toyota's Okuda denies price hikes aimed at aiding U.S. carmakers

NEW YORK July 8, 2005; Japan Today reported that Toyota Motor Corp Chairman Hiroshi Okuda denied suggestions Friday that Toyota has hiked the prices of its four major models to help U.S. carmakers turn around their poor sales performances by inducing customer defections from higher-priced Toyotas.

"It is customary for us to hike prices when we release new model-year vehicles," Okuda said in New York. (Kyodo News)