New Delhi: Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 to partially offset the impact of increase in input cost. company, which is a joint venture between Japan Toyota Motor Company And Kirloskar Group, sells a range of vehicles in the domestic market including Innova Crysta and Fortuner.
TKM said in a statement that the company will revise the prices of its models from October 1, 2021.
Except for the Vellfire, the prices of all the models of the company will be increased from next month.
“This increase is necessary to partially offset the increase in input cost. The overall price increase has been moderated considering the impact on our valued customers,” the automaker said.
There has been a gradual increase in the prices of various essential commodities like steel and precious metals in the last one year. This has increased the input cost for the automakers.
Already many companies have announced to increase the prices from next month.
Last week, Tata Motors said that it will increase the prices of its commercial vehicle range by around 2 per cent from October 1. Similarly, the country’s largest carmaker Maruti Suzuki India (MSI) has increased the prices of its entire product range except the Celerio. up to 1.9 percent.
The company had noted that it has decided to hike prices due to increase in various input costs.
This was MSI’s third price hike this year.
In the two-wheeler segment, Hero MotoCorp has already increased the prices thrice this year.
The company has increased the ex-showroom prices of its motorcycles and scooters by Rs 3,000 with effect from September 20.
The two-wheeler maker had earlier increased the prices of its motorcycles and scooters by up to Rs 1,500 in January, and then by Rs 2,500 in April this year, citing increase in input costs.
TKM said in a statement that the company will revise the prices of its models from October 1, 2021.
Except for the Vellfire, the prices of all the models of the company will be increased from next month.
“This increase is necessary to partially offset the increase in input cost. The overall price increase has been moderated considering the impact on our valued customers,” the automaker said.
There has been a gradual increase in the prices of various essential commodities like steel and precious metals in the last one year. This has increased the input cost for the automakers.
Already many companies have announced to increase the prices from next month.
Last week, Tata Motors said that it will increase the prices of its commercial vehicle range by around 2 per cent from October 1. Similarly, the country’s largest carmaker Maruti Suzuki India (MSI) has increased the prices of its entire product range except the Celerio. up to 1.9 percent.
The company had noted that it has decided to hike prices due to increase in various input costs.
This was MSI’s third price hike this year.
In the two-wheeler segment, Hero MotoCorp has already increased the prices thrice this year.
The company has increased the ex-showroom prices of its motorcycles and scooters by Rs 3,000 with effect from September 20.
The two-wheeler maker had earlier increased the prices of its motorcycles and scooters by up to Rs 1,500 in January, and then by Rs 2,500 in April this year, citing increase in input costs.
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