The company said Monday it plans to start offering plans for the Lexus LX570, a luxury sedan, at a cost of $1.9 million a year.
That will be $600 per month, up from the $550 that was previously offered, the company said.
The price increase is a way for Lexus to attract customers and make its Lexus brand more relevant to millennials.
The company also said it will increase its promotional price for the LX570 from $1 in October to $1 at the end of 2019.
The company also announced plans to offer an LX570 sedan, the LX700, at $1 per month starting in January 2020, a price increase of $500 a year for the first six months.
It also said its Lexuses luxury SUV, the Lexan LX700S, would be priced at $500 per month in 2020.
The price increase will be in addition to the price increase on Lexus’ popular LX500 SUV, which started in late 2015.
Lexus did not say when or how it would increase the price of its luxury SUVs.