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Toyota to hike prices by up to 3% starting from January 2016

Toyota India price hike

The company says that it has been holding back on the price hike for a long time.

Automakers in India are preparing to venture into the new year with increased prices. Following the local subsidiaries of Mercedes-Benz and BMW which have announced a price hike of up to 2% and 3% respectively, Toyota Kirloskar Motor has now announced that it will increase the prices across its model range by up to 3% starting from January 2016.

Talking to PTI, the company’s director and senior vice-president for sales and marketing, N Raja, stated that the hike is aimed at offsetting the rising input costs and unfavorable foreign exchange fluctuations. He added that the company has been holding back on the price hike or a long time, but┬áthe input costs, electricity, maintenance and foreign exchange have increased further.


The next gen Toyota Fortuner is in the pipeline for India.

The Japanese automaker’s current Indian portfolio ranges from around INR 5 lakhs (Etios Liva) to INR 1.29 crore (Land Cruiser). The company is in the process of finalizing┬ámodel-wise price hikes.

Toyota India is expected to launch the much awaited next gen Innova family MPV sometime next year. The new Fortuner too is likely to make it to country towards the end of 2016 or early 2017.

As 2015 comes to an end, we expect more automakers to resort to upward revision of prices in a bid to maintain their bottom line.

Next Gen Toyota Innova – Photos

Via – PTI


About the author

Nithyanandh Karuppaswamy

Winner of national level automotive quiz competitions, Nithyanandh aka Nithz jumped into the blogosphere right after gaining a degree in Mechanical Engineering. Love for automobiles and an even greater drive to share his knowledge with the automotive community, Nithz is Deputy Editor at RushLane.

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