Toyota to hike prices of its models

Rising input costs cited as the reason for the price hike

Close on the heels of some automobile manufacturers raising prices of their products, Toyota Kirloskar Motor on Tuesday indicated a price increase of its models.

“TKM today indicated that the company will realign the prices of its models, with effect from 1st October 2021," a statement from the company said on Tuesday.

“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 minimizing the impact of rising costs on consumers," it added.

Just on Monday, the company had announced that it would not be producing its Yaris sedan anymore.

The Bidadi-based company produces the highly popular Innova MPV, Glanza hatchback (based on the Maruti Suzuki Baleno), the Urban Cruiser (based on the Maruti Suzuki Vitara Brezza), Fortuner and Legender SUVs, the Camry and the Vellfire.