Toyota Kirloskar Motor (TKM) has announced that it has increased the prices of all its models in India. The company has increased the prices in Toyota Glanza, Yaris, Innova Crysta and Fortuner itself and has increased their prices by 1 to 2 percent, which are based on the models. These prices have been increased from 1 June 2020, while the Japanese carmaker has announced that it is going to increase the price of Toyota Camry Hybrid and Vellfire MPV from July 2020.
According to an official statement, Toyota said, “TKM has announced real prices in our models with increases of between 1 and 2 percent. The substantial increase in the cost of the BS6 and the weak exchange rate is partly due to higher input costs This increase is needed to fix. During the time of such testing, it has been our effort to absorb the cost increase through our internal efforts and only a minimal portion has been reflected on prices. Price increases 1 Effective June 2020. As a customer-centric company we strengthen our commitment to meet the ever-increasing needs of our customers. TKM has always been conscious of reducing the impact of increasing costs on consumers and additional Has been absorbing costs.
In addition, the price increase on Toyota Vellfire and Camry Hybrid has also been attributed to a substantial increase in the exchange rate. The company has not yet announced an increase in the prices of its hybrid models. The Toyota Camry Hybrid currently costs Rs 37.88 lakh and comes with a semi-knocked down (SKD) kit. The Toyota Vellfire is priced at Rs 79.50 lakh (ex-showroom, Delhi) and comes via Completely Knocked Down Unit (CBU) in India.