Toyota Kirloskar Motor has announced a likely price rise by up to 4 % that will come in effect from January 2019. The price hike comes in line with a periodical review of increasing manufacturing costs that is a general industry phenomenon.
Due to the depreciation of the Rupee, there has been an impact in the cost of manufacturing of vehicles. Toyota has been absorbing the additional costs for a while in order to prevent an increase in the cost of vehicles. However, due to the continued pressure of high costs, the additional cost of manufacturing will now be passed on to customers.
At present Toyota has models in many segments across the market. The rise in price may not affect each model similarly, some models may see a lesser increase in price while others may receive a hike of as much as 4 %.