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  Business   Autos  27 Nov 2018  Toyota to hike prices of vehicles across models from January 1

Toyota to hike prices of vehicles across models from January 1

PTI
Published : Nov 27, 2018, 11:10 am IST
Updated : Nov 27, 2018, 11:10 am IST

Toyota has been absorbing the additional costs all this while, protecting the customers from price increase.

Toyota will increase prices of its vehicles across models by up to 4 per cent.
 Toyota will increase prices of its vehicles across models by up to 4 per cent.

New Delhi: Toyota Kirloskar Motor on Tuesday said it will increase prices of its vehicles across models by up to 4 per cent from January 1, 2019, to offset increasing manufacturing costs due to rupee depreciation.

The company considered the price hike after periodically reviewing the continuous pressure of increasing manufacturing costs, which is also a general industry phenomenon, Toyota Kirloskar Motor said in a statement.

 

“There has been an impact in the cost of manufacturing of vehicle primarily due to rupee depreciation," the company said.

Toyota has been absorbing the additional costs all this while, protecting the customers from price increase, it added.

"However, due to the continued pressure of high costs, we have to pass on a part of it to customers. Toyota is considering a price increase of up to 4 per cent across models with effect from January 1, 2019," it said.

The company currently sells a range of vehicles starting from hatchback Liva to luxury SUV Land Cruiser, which are priced between Rs 5.25 lakh and Rs 1.41 crore.

Tags: toyota kirloskar motor, price hike, manufacturing cost
Location: India, Delhi, New Delhi