The models of the Japanese car company Toyota Kirloskar Motor (Toyota Kirloskar Motor) are already known for their high prices. The company heard the news about the increase in the price of the car. Which came into effect from last July 5. The countrymen are already unable to handle the cost of fuel. It goes without saying that the wrath of this price increase is going to put the burden of additional costs on the shoulders of the buyers. Toyota has blamed rising input costs for the price hike. That is why they have decided to share the cost increase burden with the buyers as well.
Toyota has announced an increase in car prices
Toyota has multiple vehicles in its portfolio. For example – Glanza, UC Hyryder, Innova Hycross, Fortuner, Legender, Vellfire and Land Cruiser LC300. However, the company has not yet revealed the price increase per model. However, it is expected to be less for different models and variants. Incidentally, the company has announced to increase the price four times this year.
In a statement, the Japanese company said, “Toyota Kirloskar Motors today announced that the company is revising the prices of its vehicles from July 5. This is necessary due to rising cost of raw materials. As a customer-centric company, we are committed to bringing vehicles that understand the needs of the market. So a small portion of the cost increase is shared with the customers as well.”
The price of the Innova Hycross has been hiked by Rs 27,000 on Toyota’s website in India, making the base model now priced at Rs 18.82 lakh. Where Toyota Urban Cruiser will be priced at Rs 10.86 lakh. On the other hand, the price of Fortuner starts from Rs 32.99 lakh. These are each as per ex-showroom price. This is Twitter’s second price hike announcement this fiscal year. In May, Toyota increased the price of the car to Rs 60,000.