Toyota Kirloskar Motor willl hike price of its vehicles by up to Rs. 29,000 from October 1 to offset rising input costs and foreign exchange fluctuation. “The price increase of the Innova, Corolla Altis and Fortuner will be up to 1.50 per cent,” a company official said.
This is the third time Toyota India has increased prices of its models in 2010.From October 1 onwards, multi utility vehicle Innova will see a price hike between Rs. 10,000 and Rs. 17,000, while sedan Corolla Altis by Rs. 10,000 to Rs. 14,000. The company’s sports utility vehicle Fortuner will see a price hike of around Rs. 29,000, the official said, adding the the move has been undertaken to offset rising input costs and also foreign exchange fluctuations.
From last couple of months most car makers have increased prices due to rising input costs. This is not good news to the customers as their buying power will reduce and will have to settle with lower spec models.