NEW DELHI: Toyota Kirloskar Motor (TKM), the leading automobile manufacturer, announced on Saturday that starting April 1, 2022, it will realign the pricing of its vehicles by up to 4 percent.

The company says that the hike has become necessary due to growing input costs, especially raw material costs.  In a statement, TKM stated, "As a committed and customer-centric company, TKM has made all intentional measures to minimise the impact of increased prices on consumers."

BMW India announced on Friday that prices across its model range will increase by up to 3.5 percent starting April 1. Mercedes-Benz India, another premium carmaker, has already announced an increase in the price of its whole model range, effective April 1.

The price rise will be implemented to adapt material and logistics costs, as well as the effects of the present geopolitical environment and exchange rates, according to the company.

As oper Mercedes-Benz India, the upcoming price adjustment will be in the range of 3 percent across the full model range. According to the company, persistent increases in input prices, as well as increased logistical charges, have put significant pressure on the company's overall costs.

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