Nissan to suspend Leaf orders, raise prices

Nissan Motor says it will stop taking orders of its Leaf model until it raises the car's retail prices. The Japanese automaker will temporarily suspend sales of the electric vehicle in Japan from September 22nd.

Nissan blames soaring costs of steel products and a wide range of raw materials, including precious metals used in motors and storage batteries.

Rising distribution expenses are another reason.

The size of the hikes and length of suspension are yet to be decided.

The automaker says it will also consider raising prices of other models.

Japan's consumers can expect to pay more for new cars in the coming months, as other manufacturers also deal with higher costs of materials and transportation.