KEY HIGHLIGHTS
- Price will be increased by 1 percent
- Will take effect starting April 1, 2024
- Hike will only apply to selected models
Toyota has announced an upcoming increase in the prices of certain models across its lineup. This decision comes as a result of higher input costs and operational expenses. The price adjustments will take effect starting April 1, 2024. Keep reading to find out more about this update. Meanwhile, join our 91Wheels WhatsApp Group to never miss out on any updates from the automotive world.
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Toyota: Price Hike Details
Customers will find some relief knowing that the upcoming price hike will only be a modest 1 percent increase. This isn't the first time Toyota has made such a move though. Earlier, they also raised prices on certain models by 0.5 percent to 2.5 percent back on January 1, 2024. That adjustment was made to help offset the increasing input costs and the operational expenses involved into the production.
Over the past three months, popular models like the Toyota Innova Hycross, Innova Crysta, Urban Cruiser Hyryder, Glanza, and Rumion have all experienced price increases. Interestingly, while other brands like Maruti Suzuki, Hyundai, Skoda, and more have been rolling out discounts to offset their price hikes, Toyota hasn't followed suit with any such offers.
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Toyota Innova Hycross To Get New Variant Soon
Toyota plans to add a new GX(O) variant in its Innova Hycross lineup. This new variant is likely to be positioned above the GX trim. This top-tier option will be exclusively offered for the non-hybrid petrol model, which is currently priced between Rs. 19.77 to Rs. 19.82 lakhs.
The Hycross GX(O) boast a potent 2.0-litre four-cylinder petrol engine and a 2.0-litre four-cylinder hybrid engine. It will continue to rivals such as the Tata Safari, MG Hector and Mahindra XUV 700.
Verdict
Toyota's decision to increase prices, while not a significant burden on customers' wallets, is primarily driven by the inevitable increase in input costs. It's a natural progression as rising input costs ultimately affect the final product's pricing.
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