Toyota, Hyundai to hike prices of models

Indian car makers Toyota India and Hyundai India are planning to increase the prices of its popular models.

Toyota Kirloskar Motors is hinting of a price hike very soon. With increasing input costs mainly due to increase in prices of raw materials Toyota may hike prices of its popular models like Innova, Corolla and Fortuner.

“Input cost pressure is very high and the yen fluctuation is also affecting us. We will review the
prices of our products in October,” Toyota Kirloskar Motors Deputy Managing Director (Marketing)
Sandeep Singh.

Hyundai Motor India also said it would be increasing the prices of its products by up to 1.2 per cent
across all models, from September 1.

Hyundai Motor India’s Director (Marketing & Sales) Arvind Saxena said: “There has been an increase in
the input costs for car manufacturers. We have tried to absorb as much of the cost as we can, to
cause as less inconvenience as possible to our valued customers.”