Japanese auto Toyota will hike costs of its vehicles over all Toyota models in India by up to 3% from January to adjust foreign exchange fluctuation and increasing input costs. The company is available in India with the Kirloskar Group through a joint venture. Toyota Kirloskar Motor is finalise the details of hike on Toyota individual models.
Toyota have been keeping back a cost hike and gripping for quite a while, however input costs, electricity costs, maintenance and foreign exchange have expanded. Thusly, we have chosen to increase costs of our vehicles from January.
Toyota Kirloskar Motor sells vehicles from compact car Liva with value starting at Rs 5 Lac to Land Cruiser labeled at Rs 1.29 Crore ex-showroom Delhi.
German luxury car producers Mercedes Benz and BMW have already declared that they would increase costs of their vehicles crosswise over models by up to 2% and 3% separately, from January to adjust increasing input costs.