It has begun. While we initially thought only the bike manufacturers are going on a price hike spree, the carmakers too have started following suit. While news of Toyota hiking the Fortuner prices were out last night, it now seems that Toyota Kirloskar Motor has hiked prices of the entire range, except for the Toyota Vellfire and the Camry. The Toyota Camry is priced at Rs 37.88 lakh while the Vellfire is for Rs 79.50 lakh, ex-showroom. The price hike hit has been taken by the Toyota Glanza, Toyota Yaris and Toyota Innova Crysta as well as its derivatives. This hike is in the range of 1-2% and can be considered as a minor one. With TKM opening its dealerships and restarting production, it is but imperative that new customers will have to pay the revised prices. At present, there are few offers and schemes on TKM vehicles as well.
Toyota has also issued a formal statement about the same. The company spokesperson says
TKM announces the realignment of prices across our models with a hike between 1 to 2%. This increase is necessitated to partially recover the substantial increase in cost of BS6 and the higher input costs on the back of weak exchange rate. During such testing times, it has been our endeavor to absorb cost increases through our internal efforts and only a minimal portion has been reflected onto the prices. The increase in price is effective from June 1st, 2020. As a customer-centric company, we reinforce our commitment to cater to the ever-evolving needs of our customers. TKM has always been conscious of minimising the impact of rising costs on consumers and has been absorbing the additional cost
At present, the Toyota Glanza range starts from Rs 7.01 lakh, the Innova Crysta from Rs 15.66 lakh while the Yaris is from Rs 8.86 lakh, ex-showroom. The Toyota Innova Crysta-derived Touring Sport is from Rs 19.53 lakh, ex-showroom. TKM offers diesel engines with the Innova range and the Fortuner. The company is readying for the launch of the new Toyota Urban Cruiser. This is the rebadged Maruti Suzuki Vitara Brezza model. Dispatches have already started from the Maruti Suzuki plants and it remains to be seen when Toyota Kirloskar Motor launches the car here. It will mostly come with a four-year warranty, mild-hybrid powertrain as well as manual and automatic transmissions. It will also be the first Toyota compact SUV in the Indian market.
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