Toyota To Hike Prices Of Vehicles

AUTO

Toyota Kirloskar Motor Tuesday said it will increase prices of its vehicles across models by up to 4 percent from January 1, 2019, to offset increased manufacturing costs due to rupee depreciation.

The company considered the price hike after periodically reviewing the continuous pressure of increasing manufacturing costs, which is also a general industry phenomenon, Toyota Kirloskar Motor said in a statement.

There has been an impact in the cost of manufacturing of vehicle primarily due to rupee depreciation,” the company said. Toyota has been absorbing the additional costs all this while, protecting the customers from the price increase, it added.