Japanese car maker Toyota will increase the prices of its entire range of cars in India by around 1.5 per cent with effect from September 1 to partly offset the losses due to the rupee depreciation.
This is the second hike since June by Toyota's Indian arm Toyota Kirloskar Motor. It had raised prices then by up to 1 per cent due to the impact of rupee fall.
“The rupee depreciation has hit us very badly and it is affecting our margins. We are trying to hold this as far as possible. We are forced to pass on the burden partially to our customers,” TKM Deputy Managing Director (Marketing) Sandeep Singh told PTI.
“Although we have not finalised the quantum of the hike, it will be around 1.5 per cent,” he added.
The company will increase the prices of all its models with effect from September 1.
Toyota Kirloskar Motor imports many critical components such as engines and transmissions for its different models in India.
At present, Toyota Kirloskar Motor’s compact car Liva is priced between Rs 4.10 lakh and Rs 6.32 lakh, while Etios sedan is priced at Rs 5.14 lakh to Rs 8.23 lakh.
The multi utility vehicle Innova is available for Rs 8.98 lakh to Rs 13.72 lakh and the premium sedan Corolla Altis is offered at Rs 11 lakh to Rs 15.43 lakh.
TKM’s sports utility vehicle Fortuner is priced between Rs 20.89 lakh and Rs 22.04 lakh. All these prices are as per the company’s official website, and for ex-showroom, Delhi.