Toyota Kirloskar Motor to hike prices of their vehicles from October 1
Toyota Kirloskar Motor has announced that just like many other automakers, they too will hike up the prices of their vehicle models. The price hike will be effective from October 1, 2021.
The company said in a 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 minimizing the impact of rising costs on consumers."
This news comes in just days after Toyota decided to discontinue its Yaris sedan in the Indian market. The price hike is mainly due to the increase in manufacturing costs of the vehicles.
Toyota Kirloskar Motor hasn't specified yet as to how much they will be increasing the prices of their vehicles. This will differ from one model to the next, as well as depending on the variant. From next month, all approved dealerships will have updated variant-specific pricing.
The TKM range of cars currently includes the Glanza, Urban Cruiser, Innova Crysta and the Fortuner.
Over the last several months, Maruti Suzuki, Tata Motors, Mahindra, Hero MotoCorp and a slew of other automakers have raised the pricing of their vehicles. Toyota had increased the prices of their vehicles earlier this year and will be doing so again with the festive season on the horizon.
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