Toyota Fortuner, Innova Hycross and Glanza get a price hike. Check new prices
1 min read 07 Jul 2023, 09:30 AM ISTToyota Kirloskar Motor has implemented price hikes for its entire range of vehicles in India due to rising input costs. The price increase varies across models and variants, with an estimated overall difference of 1.5-2%. This is the second price hike by the automaker in the current fiscal year.
PremiumToyota Kirloskar Motor, the renowned automaker, recently disclosed that it has implemented price hikes for its entire range of vehicles starting from July 5, 2023. The decision to raise car prices was driven by escalating input costs, as stated by the Japanese carmaker, reported HT Auto.
As per the report, Toyota Kirloskar Motor emphasized that adjusting the prices was essential to partially counterbalance the surge in raw material expenses.
Toyota Kirloskar Motor offers a diverse range of vehicles, including the Glanza, UC Hyryder, Innova Hycross, Fortuner, Legender, Vellfire, and Land Cruiser LC300. Reportedly, Although the automaker has not officially disclosed the specific percentage increase for each model, customers can anticipate a slight price hike, varying across models and variants. Additionally, Toyota's luxury brand, Lexus, recently raised prices for the ES 300h by up to two per cent, citing similar reasons for the adjustment.
In a statement, the automaker said, “Toyota Kirloskar Motor (TKM) today announced that the company has realigned the prices of its models with effect from 5th July 2023. The increase was necessitated to partially offset the rising input cost. As a customer-centric company, we remain committed to cater to the ever-evolving needs of the market and all efforts have been made to ensure that the impact of the cost increase passing on to our customers is minimum."
According to the official website, the Toyota Innova Hycross has seen a price increase of approximately ₹27,000 on the base trim, resulting in a new starting price of ₹18.82 lakh. The Toyota Urban Cruiser Hyryder now begins at ₹10.86 lakh, while the Fortuner range starts at ₹32.99 lakh (all prices, ex-showroom India), all showing slight increments compared to previous prices. The overall difference is estimated to be around 1.5-2 per cent across the models. This marks Toyota's second price hike in the current fiscal year, following a previous increase in May, which affected all models in the automaker's lineup, with hikes of up to ₹60,000.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
