Monday, June 04, 2012
By Pawan Rana
Toyota Etios, Liva, Fortuner, Innova price increased by up to 1 percent
In order to lessen the aftereffects of the falling rupee value and the consequent rise in input costs, Toyota Motors has increased the price of its selected diesel models of cars including Toyota Etios Liva hatchback, Toyota Etios sedan, Toyota Fortuner SUV and MPV Toyota Innova. Notably, the Japanese car maker has been constantly giving indications of a price rise of its cars in India after the rupee started to fall recently. Meanwhile, the increase in price of cars due to the rising input costs is seen as detrimental move dampening the overall sales of cars in India. Other car makers are expected to follow suit.
As per the official statement made by Toyota Motors, it tried to defer the burden caused due to the rising input costs after the rupee value started to fall but had to at last shift a part of the burden on to the shoulders of the car buyers. Where Etios sedan and Innova diesel models are costly by 1 percent, the Toyota SUV Fortuner and Toyota hatchback car Etios Liva Diesel are dearer by half a percent. All the new prices came into effect on June 1.
Significantly, Toyota Motors has been planning to moderate the effects of depreciating rupee by stepping up the exports, but it could not retain position as the rupee took a dip recently and the losses touched over Rs 60 crore since the rupee started it downtrend. As of now, there is no change in the price of petrol versions of Toyota cars in India perhaps due to the factor that petrol car sales are already low and a further increase in price could further dampen it. Notably, Toyota has started exporting Etios sedan and small car from India to South Africa recently and it has helped the car maker compensate some of the losses but following meek demand in there as well, Toyota had no option but to raise the price of its diesel cars in India.