Toyota announces 4 per cent price hike from January 2019

Toyota Kirloskar Motors, the Indian arm of Toyota, has announced a price hike of about four per cent across its range starting from January 2019. The price hike is due to the continually increasing input costs, the brunt of which was being borne by the manufacturer till now.

Depreciation of the Indian rupee in recent times has resulted in high import costs which have been the primary reason for the rise in input cost. Also, with the local manufacturing costs increasing gradually, Toyota said that they had to pass on a part of it to the customers. 

As a result, the prices of the Etios Liva hatchback is expected to go up by almost Rs 20,000 while the likes of the Fortuner will get dearer by over Rs 1 lakh, ex-showroom.