Toyota Kirloskar Motor has announced that the company is likely to hike prices across its models by up to 3% from January 2018. The price hike is after reviewing input and freight costs periodically, which is also a general industry phenomenon, said the company.
“There has been an increase in the cost of manufacturing of vehicles. Frequent fluctuation in the global commodity prices and foreign exchange rates have continued to impact our input costs, from both domestic as well as import fronts. Toyota has been absorbing the additional costs all this while, protecting the customers from price increase. However, due to the continued pressure of high costs, Toyota is considering a price increase of upto 3% across models with effect from Jan 2018”, said a TKM spokesperson.
“To further enhance customer delight in the year end, we are offering bountiful offer under the Remember December Campaign for Toyota customers.
Under Remember December Campaign, our customers can avail attractive schemes like 100% on road financing, interest rates starting at 4.99%, special EMI package. It also comprises of benefits ranging from Rs 40,000-Rs 90,000 varying from model to model across regions, also including additional benefits for Government and Corporate Employees. All these offers are valid up to December 31st”, he added.
Skoda India too announced a price hike of 3% recently.