Toyota Kirloskar Motor has announced that it will be revising prices for all its products in the Indian market. Toyota has not confirmed how much prices are to inflate, but it has confirmed that their products will get dearer from October 1, 2021. The price increase is likely to vary between models and their individual variants. Toyota dealerships will receive the updated ex-showroom prices for all products in the range soon, and the same would be updated on the official website.
In the same light, Toyota released the statement; “TKM today indicated that the company will realign the prices of its models, with effect from 1st October 2021. This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers. As a customer-centric company, we remain committed to cater to the ever-evolving needs and requirements of our customers by consciously minimising the impact of rising costs on consumers.”
The price increase for all Toyota products is being done due to the rise in input costs. Due to the high rate of inflation of recent times, and the rise in prices of automotive parts, commodities and even freight charges due to high fuel prices, automakers have to bear the high prices and eventually transfer the cost to consumers. Most other automakers are expected to hike prices in the times to come as well.
Toyota currently retails the Glanza, Urban Cruiser, Innova Crysta, Fortuner, Camry and the Velfire. Toyota has now discontinued the Yaris sedan. Like the Glanza and the Urban Cruiser, Toyota is expected to introduce a new cross badged sedan based on the Maruti Suzuki Ciaz to replace the Yaris.
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