Tuesday, June 15, 2021
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Toyota to hike prices of cars from April

Toyota Kirloskar Motor (TKM) on Friday said it will increase prices of some of its products from next month in order to offset rise in input costs.

“We have been absorbing additional costs through a bouquet of cost reduction measures including refinement in production process. However, considering the trend of continuous increase, we are constrained to pass on a small portion to the customers,” TKM Deputy Managing Director N Raja said in a statement.

The company will continue its efforts to contain costs and offer the best value to its loyal customers, he added.

TKM, however, did not disclose the models that would become costlier. The company sells a range of products including popular multipurpose vehicle Innova and premium sports utility vehicle Fortuner.

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