Toyota has finally announced a price hike which will be effective from January 1, 2016. All vehicles will witness an increase in price by a maximum of three percent. Customers will have to pay additional prices for their preferred Toyota models.
So far, Toyota India has not confirmed the price increase for each model. Officials confirm that foreign exchange rates and rise in raw material cost have forced the manufacturer to increase prices. Toyota has been bearing the additional cost for a while now in the Indian market.
Customers can avail the Remember December offer that Toyota India is offering. The manufacturer is providing various offers and benefits on several models. Remember December offer is valid only till December 31, 2015, after which all models will witness a price hike.
Currently, Toyota India's portfolio consists of ten models. The Etios Liva, Etios Cross, Etios, Corolla Altis, Camry, Prius, Innova, Fortuner, Land Cruiser, and Prado. For 2016, Toyota plans on introducing an all-new Innova and Fortuner model.
Almost every automobile manufacturer has announced a price hike from January 1, 2016. Honda, Hyundai, and Maruti Suzuki have already announced a hike within their portfolio. The manufacturer's have increased prices to a various degree, it will be interesting to see if sales are affected or not.