Toyota plans to hike vehicle prices next month

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oyota Kirloskar Motor (TKM) is planning to increase vehicle prices from next month in order to partially offset rise in input costs.

The company, which is a joint venture between Japanese auto major Toyota and Kirloskar group, currently sells a range of vehicles from hatchback Etios Liva with price starting at Rs 5.49 lakh to luxury SUV Land Cruiser tagged at Rs 1.41 crore (ex-showroom Delhi) in the country.

“Challenges in terms of rising input costs have been there. We are holding on to it (price increase) for some time now. Shortly, we will be doing it. It could be even as early as next month,” TKM Deputy Managing Director N Raja told PTI.

The company is currently working on the quantum of price hike, he added.

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