Toyota contemplates price hike in emerging markets like India, Brazil
Japanese auto giants, Toyota Motor Corp, Headquarters in Toyota, Aichi, Japan, are being faced with weakening value of local currencies in emerging markets. To counter this effect, the company is considering a hike in vehicle prices in the respective markets.
Though little impact is seen from either Dollar or Euro, it is as the company expands to new and emerging markets that there is wider discrepancies in currency fluctuations causing constraints on profits of the company leaving Toyota Motor Corp no other recourse than to increase prices.
When taking foreign exchange into account, Toyota surmises that fluctuations will reduce operating profits by 95 billion yen (Rs 5,593 crores or $934 million) this fiscal. This will reduce profits to 0.3% during the fiscal following record profits reported in the previous fiscal.
via Japan Times
Email - [email protected]
Latest posts by Pearl Daniels (see all)
- Isuzu MU-7 by DC Design revealed: Customization cost Rs 3.45 lakhs - August 5, 2015
- Mahindra XUV500 side airbags fail to deploy in a multiple rollover crash - August 4, 2015
- 2015 Honda CBR150R unveiled with new colours at RevFest - August 4, 2015