New Delhi, Dec 7 (PTI) Toyota Kirloskar Motor (TKM) todaysaid it is considering to increase prices of its models by upto 3 per cent from January, to offset impact of rising inputcosts.
The company considered the price rise after reviewinginput and freight costs periodically, which is also a generalindustry phenomenon, TKM said in a statement.
"There has been an increase in the cost of manufacturingof vehicles. Frequent fluctuation in the global commodityprices and foreign exchange rates have continued to impact ourinput costs, from both domestic as well as import fronts," acompany spokesperson said.
TKM has been absorbing the additional costs all thiswhile, protecting the customers from price increase, thespokesperson added.
"However, due to the continued pressure of high costs,Toyota is considering a price increase of up to 3 per centacross models with effect from January," the spokespersonsaid.
The company sells models ranging from hatchback EtiosLiva with price starting at Rs 5.2 lakh to Land Cruiser 200priced at Rs 1.35 crore (ex-showroom Delhi) Yesterday, Honda Cars India announced to hike vehicleprices by up to Rs 25,000 from January to offset the impact ofrising input costs.
Earlier this month, Isuzu had announced to increaseprices of its models by up to Rs 1 lakh. Last month, SkodaAuto India announced that it will hike prices of its vehiclesby 2-3 per cent across the entire model range from January 1.
PTI MSS RKLSBT.
This is unedited, unformatted feed from the Press Trust of India wire.