Toyota Kirloskar Motor is all set to hike the prices across its models including the premium MPV Innova Crysta by the end of this month or early October 2016. Due to the increased pressure of the appreciation of the yen and the dollar and the increased cost of commodities like steel were the reason for the price rise.
The MPV from Toyota, its top-selling vehicle in the country will be most affected, the old Innova was shy by Rs 1.5 lakh compared to the new-generation Innova Crysta. With the next hike expected on the MPV, needs to be seen if the hike will be accepted by the customers.
Toyota sells the Etios, its hatchback the Etios Liva, sedans including the Corolla Altis, Camry, and Fortuner, Land Cruiser and the Land Cruiser Prado SUVs. The prices across the portfolio range between Rs 5.13 lakh to 1.34 crore ex-showroom.
India's leading car makers, Maruti Suzuki and Hyundai Motors India Limited hiked the prices of their vehicles last month. While Maruti price hike was in the range of Rs 1,500 to Rs 20,000 effective August 1, 2016, Hyundai raised the prices of its vehicles in the range of Rs 3,000 to Rs 20,000 effective from August 16, 2016.