- By Divanshi Sharma
- Fri, 29 Mar 2024 12:26 PM (IST)
- Source:JND
Toyota Price Hike: Toyota Kirloskar Motor has announced its plans to implement a price increase on select models starting from April 1, 2024. The automaker cited rising input costs and operational expenses as the primary reasons behind the decision to raise prices by up to 1 per cent on certain variants of specific cars.
This upcoming price adjustment marks Toyota's second hike this year, following a similar increase across its lineup in January 2024. The move follows in the footsteps of Kia India, which also plans to raise prices across its range from the next month onwards. Although the percentage increase may appear less, it is expected to impact models such as the Toyota Fortuner, Hilux, Innova Hycross, Innova Crysta, Urban Cruiser Hyryder, and Glanza.
In an official statement, Toyota Kirloskar Motor stated, "The company is planning to increase the prices of certain grades of its specific models effective April 01, 2024, with an anticipated 1 per cent increase. This adjustment is attributed to the escalating input costs and operational expenditures." Price hikes are regular around the starting of the new financial year and it is anticipated that more automakers will follow suit in the coming weeks, adjusting prices across their respective product ranges.
ALSO READ: Skoda Superb To Be Reintroduced In India On April 3; Check Expected Price, Engine Specs Here
Furthermore, Toyota is gearing up to launch its latest offering based on the Maruti Suzuki Fronx on April 3. This new model is speculated to be named the Toyota Urban Cruiser Taisor upon launch. Additionally, the automaker intends to introduce the new GX (O) variant to the Innova Hycross petrol lineup, as indicated on the brand's official website.