Toyota Kirloskar Motor (TKM) is all set to implement a price hike on its selective variants in India. The brand has announced that Toyota models will receive a price hike of up to one percent starting April 1, 2024. The company attributed the price revision to rising operational expenditures and input costs. Several manufacturers run a periodic price change in the month of April, so one can expect similar announcements to come from other automotive manufacturers as well.
The upcoming price revision is going to be Toyota’s second price surge in the country for the calendar year 2024. Toyota implemented a price hike on selective models and trims by up to 2.5 percent in January 2024. Apart from Toyota, Honda Cars India will also surge prices across its product range in April 2024.
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The company said in a press statement, “Toyota Kirloskar Motor today announced that the company is planning to increase the prices of certain grades of its specific models effective April 1, 2024. With an anticipated 1% increase, the move is attributed to escalating input costs and operational expenditures.”
The Japanese automotive manufacturer sells a range of models, from sedans and hatchbacks to SUVs and MPVs. The portfolio includes the Glanza, Rumion, Innova Crysta, Urban Cruiser Hyryder, Innova Hycross, Fortuner, Hilux, Vellfire, Camry, and Land Cruiser 300.
Toyota recently unveiled a new GX (O) variant for the petrol model of the Innova Hycross. The new trim will be positioned between the robust hybrid VX trim and the petrol only GX. The brand has started the booking process for the GX (O) variant. In addition, Toyota is planning to launch a new model on April 3, which is expected to be the brand’s version of the Maruti Suzuki Fronx.
