Known to make one of the most reliable and bulletproof cars in the world, Toyota has recently announced a price hike for its range of cars. Until now, the company tried its best to avoid passing on this extra cost to its customers by taking some cost-cutting measures at the assembly line. However, with the cost of raw materials on the rise, Toyota has been forced to increase the prices of some of its models. This hike will be effective from the 1st of April, 2019. The brand, however, has not yet announced the models or the additional costs that this hike will come with.
“Toyota Kirloskar Motor will increase the prices of some of its products effective 1st April 2019. We have been absorbing additional costs through a bouquet of cost reduction measures including refinement in the production process. However, considering the trend of continuous increase, we are constrained to pass on a small portion to the customers. The company will continue its efforts to contain costs and offer the best value to our loyal customers.” said Mr N. Raja, Deputy Managing Director, Toyota Kirloskar Motor, commenting on this price rise. Toyota now joins the likes of Skoda, Volkswagen and Maruti Suzuki, who also announced a hike in their prices at the start of the year.
With about 12 models on sale in the Indian market, Toyota has earned a repute in the country as a maker of reliable and robust products. Their models cater to a wide set of audiences, all of which come with easy maintenance and a low cost of running. The brand also offers two plug-in hybrid cars in our market, the newly launched Camry Hybrid and the Prius.
In other news, the brand will be soon launching a rebadged model of the Baleno hatchback from Maruti Suzuki. Toyota and Maruti Suzuki have come together to develop new hybrid technology which both these brands will be sharing. Also as part of this alliance, Toyota will get Maruti’s two popular models, the Baleno and the Vitara Brezza to be sold under the Toyota brand. Maruti shall also benefit from this by receiving the Corolla Altis sedan.