Toyota announces 3 percent price hike across model range

The price increment will be effective from January 2018.

Published On Dec 07, 2017 07:25:00 PM

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Toyota announces 3 percent price hike across model range

Toyota Kirloskar Motor has announced it will increase the price of its vehicles by three percent. The price hike will be effective from January, 2018.

The company has cited rising input and freight costs as the reason for this increase. Toyota is the latest carmaker in India to announce a price hike. So far, Skoda and Isuzu are the other manufacturers to implement a similar hike. Earlier, auto majors like Maruti Suzuki, Tata Motors and Mahindra & Mahindra had indicated a price increment of their products as part of its cyclical price revision.

December, which is generally a slow month for sales, has seen carmakers advertise deals and discounts to lure buyers. Toyota too is offering attractive discounts with benefits of up to Rs 90,000, loans at a low interest rate of 4.99 percent, 100 percent on-road financing and special EMI packages under its ‘Remember December Campaign’. The offers are valid until December 31, 2017.