Come 2019, be ready to shed out more money to buy your next new car or an SUV. After BMW, the Indian arm of the Japanese automaker, Toyota Kirloskar Motor is now likely to increase its price by up to 4% across its model range starting January 2019. Toyota says that an increase in manufacturing cost and pressure on rising input costs has forced the company and the industry to put the extra burden on its customers.
Toyota says that there has been an impact in the cost of manufacturing of vehicles due to rupee depreciation. For some time now the company has been absorbing the additional costs all this while, protecting the customers from the price hike. "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% across models with effect from 1st Jan 2019."
Toyota Innova Crysta, Toyota Fortuner, Toyota Yaris, Toyota Etios Liva, Toyota Etios sedan, Toyota Corolla and Toyota Camry Hybrid are some of the major vehicles that will undergo price hike starting the new year 2019. Earlier in an interview with Express Drives, Toyota Kirloskar had confirmed that it does not plan to introduce any new SUV in India anytime soon. However, the company is on track for an early rollout of BS-VI compliant vehicle ahead of the April 2020 deadline. With the new emission norms, the cost of the cars will further go up with them being BSVI compliant and the company will pass down the burden of new costs to its customers.