Toyota Kirloskar Motor has announced a price revision for its cars wef January 1, 2022
As 2022 approaches, manufacturers are using the time remaining to announce price hikes for their vehicle range. While model year vehicles don’t undergo any changes, each new year brings with it a price revision. Such exercises are common throughout the year in keeping up with rising input costs.
Following an eventful festive season, potential buyers can gauge the upward price difference even if a 4 month deferred purchase decision beckons. Price revisions at the start of the calendar year, and financial year are now commonplace.
That being said, there is no right or wrong time to buy a car as such decisions are dictated by a range of situations that need to align. The only saving grace is that a car bought today is likely to be a few thousands cheaper than a purchase made later.
Toyota Price Hike Jan 2022 – Impact of the cost increase
Toyota Kirloskar Motor has issued a price revision statement today. With effect from January 1, 2022, Toyota Kirloskar Motor is realigning the price of its models. The routine is attributed to ‘sustained increase in input costs including raw materials’. Toyota will increase prices of all their cars on offer. This includes Innova Crysta, Fortuner, Glanza, Urban Cruiser, Camry and Vellfire.
For price hikes not to be an eyesore, they are staggered. This means, customers buy in at different price points depending on purchase date. Though, at the end of the year one realises the quantum of price increases through a said period (calendar year and / or financial year). This is done to ensure ‘that the impact of the cost increase has minimum effect’.
Toyota India sales
The ongoing quarter has already seen Toyota India report wholesales at just over 25k units. The manufacturer has indicated that it hopes to end 2021 on a growth note. Manufacturers in India report monthly sales numbers to SIAM in terms of wholesale. Whereas, the dealer association, FADA circulates a retail report each month. The latter misses out on numbers that are not uploaded in select regions (AP, MP, LD & TS) on account of them not being Vahan 4.
Toyota’s retail numbers were reported at just over 10.5k units in November 2021. Retail numbers are tabulated on vehicle registrations, and wholesales on dispatches from manufacturing plants to dealers. As such, both numbers differ. Either way, Toyota India finds itself just out of the top 5 list in terms of sales.
Following vehicles designed and made by Toyota to gain dominance in the UV segment, in recent years, Toyota has relied on its association with Suzuki. This has facilitated launching new cars that share a platform with Maruti Suzuki in quicktime. The development has helped Toyota India expand its product portfolio in a timely manner.
