The world's leading automaker Toyota Kirloskar Motor (TKM) has announced that it has increased the prices of all its models in India. The company has increased the prices only in Toyota Glanza, Yaris, Innova Crysta and Fortuner 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 on the matter, Toyota said, "TKM has announced real prices in our models with a hike between 1 and 2 percent. The substantial input cost is behind the substantial increase in BS6 costs and weak exchange rates. This increase is needed to partially recover. During times of such testing, it has been our effort to absorb the cost increase through our internal efforts and only a minimal portion of the cost has been reflected. The price increases will take effect from June 1, 2020. As a customer-centric company we strengthen our commitment to meet the ever-increasing needs of our customers. TKM is always conscious of reducing the impact of increasing costs on consumers Has been and continues to absorb additional costs.
For your information, let us tell you that 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. Currently, the Toyota Camry Hybrid 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 through Completely Knocked Down Unit (CBU) in India. The same, the price of Toyota Glanza range now starts at Rs 7.01 lakh, which now goes up to Rs 8.96 lakh. The hatchback is based on variants taken from Suzuki and its prices have increased from Rs 3,000 to Rs 25,000. The Toyota Yaris is now priced between Rs 8.86 lakh and Rs 14.30 lakh and its prices have increased from Rs 10,000 to Rs 12,000 depending on the variant. However, the prices of J and G variants of the sedan have increased from Rs 1.68 lakh to Rs 1.20 lakh.