The Indian auto JV, Toyota Kirloskar is planning to raise the price of its certain models in an attempt to compensate the hike in input costs and the fluctuating exchange rates. Toyota Kirloskar’s MD for India said that a time has come for the company to revise the prices of its models in the wake of yen fluctuation and input cost rise.
The matter has become a great concern for Toyota Kirloskar since the cost of many components have risen to a great extent, he added. The price rise for Toyota models has become inevitable he said. He said a final decision will come off not later than 20th instant when the actual level of rise will be let known. The revision will become effective for invariably all models barring the recently launched Etios sedan. Toyota’s two plants are with the capacity of 150000 units of which the Bangalore facility delivers SUV Fortuner, Innova MUV, Corolla Altis premium sedan. The import brands are premium SUV Prado and Camry luxury sedan.
In the meantime, the country’s largest car manufacturer Maruti is contemplating an another price rise quoting the rise in the commodity costs. GM India and Hyundai Motor India also follow the suit by which they may hike the price by 2% effective January 2011.
Source: living.oneindia.in
