Top executives at Toyota's North American operations anticipate new-vehicle average transaction prices will break the $50,000 barrier and continue to rise, that demand will outstrip supply again this year even as the supply chain recovers and that there now may be as many as 6 million potential new-vehicle buyers sidelined by inventory and pricing.

Speaking to reporters Monday to give a periodic update on the Japanese automaker’s business, Jack Hollis, head of sales for Toyota Motor North America, said 2023 would likely see Toyota and Lexus pick up another 100,000 sales above the 2.1 million it sold in the U.S. last year but also could see a slight drop in its market share.

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Toyota Says The Average New Car Price Will Top $50,000 This Year

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