New Delhi, Sep 28: Automaker Toyota Kirloskar Motor (TKM) on Tuesday stated it should improve costs of its complete mannequin vary by as much as 2 per cent with impact from October 1 to be able to partially offset the influence of rise in enter prices.
The corporate, which is a three way partnership between Japan's Toyota Motor Firm and Kirloskar Group, sells a spread of automobiles together with Innova Crysta and Fortuner within the home market.
The corporate will realign the costs of its fashions, with impact from October 1, 2021, TKM stated in an announcement. Toyota to Cease Promoting Mid-Sized Sedan Yaris in India.
All firm fashions besides Vellfire would see an upward improve in costs from subsequent month.
"This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers," the automaker famous.
Within the final one yr, there was a gradual improve within the costs of varied important commodities like metal and treasured metals. It has led to elevated enter prices for the automakers.
Already varied firms have introduced to extend costs from subsequent month.
Final week, Tata Motors stated it should improve costs of its business car vary by round 2 per cent with impact from October 1. Equally, the nation largest carmaker Maruti Suzuki India (MSI) has elevated costs of its complete product vary, besides Celerio, by as much as 1.9 per cent.
The corporate had famous that it has taken the choice to hike costs because of a rise in varied enter prices. It was MSI's third value hike this yr.
Within the two-wheeler house, Hero MotoCorp has raised costs thrice already this yr.
The corporate has made an upward revision within the ex-showroom costs of its bikes and scooters by Rs 3,000 with impact from September 20.
The 2-wheeler main had earlier elevated costs of its bikes and scooters by as much as Rs 1,500 in January, and once more by Rs 2,500 in April this yr citing rise in enter prices.