Starting April 1, a Toyota car will burn a deeper hole in your bank account

The increase is necessitated to offset the substantial increase in input costs, Toyota Kirloskar Motors said

Toyota Kirloskar Motor (TKM) on Saturday said it will hike prices of its models with effect from next month.

The company will realign the prices of its models, with effect from April 1, 2021, Toyota Kirloskar Motor (TKM) said in a statement.

The increase is necessitated to offset the substantial increase in input costs, it added.

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"During such testing times, it has been our endeavour to absorb cost increases through our internal efforts, and only a minimal portion will be reflected onto the prices," the automaker said in a statement.

As a customer-centric company the company reinforces its commitment to cater to the ever-evolving needs of customers by consciously minimising the impact of rising costs on consumers, it added.