Latest Car News in India

Friday, September 16, 2016

By Kamal Swami

Toyota to Hike The Prices of Indian Portfolio

According to recent industry reports Toyota Kirloskar Motors (TKM) the Indian alliance of Japanese car maker Toyota Motors is speculating to hike the prices of complete range existing in Indian car market. It is reported that hike in prices will take after going through the increase in cost of raw material and rate of foreign exchange. The hike in prices will vary in range of two to three percent on the existing ex-showroom prices of the products.

Toyota Logo
In the words of Mr. N. Raja, Director and Senior Vice President, TKM, “There has been increased pressure due to appreciation of yen and dollar. Besides, input costs for commodities like steel have gone up. We have been absorbing the cost but we will be reviewing it soon," The Japanese car maker get raw materials for its car from Japan and Thailand where Yen and Dollar have received an appreciation, due to which company is compelled to increase the prices of its family.   
Toyota Innova Crysta Front Side View
It is believed that the decision of hike in prices will also impact on refreshed Toyota Etios Liva and Etios which were recently launched by car maker in Indian car market. Although this might adversely affect the sales of these vehicles, but as every major car maker is following the same trend it will not make any serious impact on Japanese car maker. Prior to this company had already launched the generation next Innova MPV, christened as Innova Crysta in India which succeed in receiving an over whelming response from Indian car enthusiasts. 
The future line-up of Japanese car maker for Indian car market includes the launch of generation next Toyota Fortuner during the month of November this year, followed by premium sedan Vios sometimes during next year in India, to compete against Maruti Suzuki Ciaz, Hyundai Verna and Honda City. As far as Toyota Fortuner SUV is concerned it has been one of the best selling products by car maker. The new Fortuner will be empowered with two engine options of 2.4 litre and 2.8 litre diesel engines.

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