Toyota hikes car prices of Innova and Corolla Altis

Toyota Kirloskar Motor (TKM) has increased the prices of the Toyota Innova ans Toyota Corolla Altis. Depreciation of rupee and yen against the US currency and rising input costs has forced Toyota to increase its prices.

“So far, we have tried to absorb price increases (input costs) as much as possible, in order to limit the increase passed on to the customers. “However, due to unavoidable reasons such as recent changes in the rupee/dollar and yen/dollar exchange rate, we are now required to make necessary revisions in pricing,” Toyota Kirloskar Motor deputy managing director (marketing) Sandeep Singh.

The company was also affected by rising operational costs, he said in a statement today. After this price increase, Innova would be costlier by Rs. 10,000-Rs. 25,000, while consumers would have to pay Rs. 10,000-Rs. 50,000 more for Corolla Altis.