The price hike of all Toyota models is mainly due to rising input costs. Ex-showroom prices will realign for all Toyota models from January 1, 2022.
Toyota Kirloskar has announced that it will hike the prices of all car models from January 1, 2022. This hike comes mainly due to the rise in material charges and other input costs. Although the carmaker has not specified the quantum of the increased price amount, it will vary from model to model. Speaking about the hike, the company said in a press release, The price alignment is necessitated on the back of the sustained increase in input costs, including raw materials.
The Indian subsidiary of Toyota Motor Corporation, TKM (Toyota Kirloskar Motor) had increased the price of all their car models before twice, on April 1 and October 1, 2021. The Innova Crystas price was hiked separately again on August 1, 2021.
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Currently, the Toyota Innova Crysta starts from Rs. 20.27 lakh with the base 2.7 GX 7 STR model. The Fortuner starts from Rs. 35.78 lakh. Both these models are expensive and after the upcoming hike, will definitely get pricier. Besides, TKM also sells the Glanza and Urban Cruiser as part of their joint partnership with Maruti Suzuki.
Many more manufacturers have also revealed their plans to increase their prices. In the premium segment, Mercedes-Benz and Audi have both announced up to 2% and 3% hikes, respectively, in their vehicles category. Tata Motors will also hike the prices of their passenger vehicles from January onwards. Similarly, Maruti Suzuki will follow the same route too.
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The price hike also doesnt come off much as a surprise as such. Many automakers have faced rising production, especially due to the shortage of semiconductor chips. This crisis has single-handedly pushed the waiting period of certain vehicles, by almost 2023. (Find out which vehicle, here). Besides, it also has become a general practice in our country to hike the prices of car models before the start of every year. Now the only question that remains to be answered is, by how much Toyota will hike their prices for India?
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