By Toyota Kirloskar Motor (TKM) has revealed its intention to raise prices on select vehicles by up to 1% starting from April 1. The decision comes in response to escalating input costs and operational expenditures faced by the automaker.
Reason for Price Increase
In a statement, TKM attributed the planned price hike to the continual rise in input costs and operational expenses. The company aims to offset these growing expenses by adjusting the prices of certain grades of specific models effective April 1, 2024.
Range of Vehicles Affected
TKM offers a diverse range of vehicles, spanning from the hatchback Glanza to the premium SUV Fortuner. Prices for these models currently range between Rs 6.86 lakh and Rs 51.44 lakh.
As the automotive industry grapples with various challenges, including supply chain disruptions and increased raw material costs, TKM’s decision reflects its efforts to maintain financial stability while continuing to deliver quality vehicles to customers.
