Second price hike by Toyota this year, with effect from September 1, 2012
Subscribe to Newsletter
Please fill your name and email ID to get our daily auto news mailer. August 17, 2012, 11:40 IST by CarTrade Editorial Team
Japanese car maker Toyota announced its second price hike this year, citing losses owing to the devaluation in the value of rupee against the US dollar. Earlier in June this year, Toyota Kirloskar Motor (TKM) announced a hike of 1 per cent, but later the company revalued the increase to 1.5 per cent.
Expressing his views on the hike, the Deputy Managing Director (Marketing) of the company, Sandeep Singh quoted, “The rupee depreciation has hit us very badly and it is affecting our margins. We are trying to hold this as far as possible. We are forced to pass on the burden partially to our customers”. He also added, “Although we have not finalized the quantum of the hike, it will be around 1.5 per cent”.
At present, Toyota’s compact car Liva comes within a price range of Rs. 4.10 lacs to Rs. 6.32 lacs, while the Etios sedan is priced between Rs. 5.14 lacs and Rs. 8.23 lacs. Considering the price of Innova Multi Utility Vehicle (MUV), the base model is tagged with a price of Rs. 8.98 lacs, whereas the top-end model is offered with a consideration of Rs. 13.72 lacs. Toyota’s premium sedan, Corolla Altis is priced between Rs. 11 lacs and Rs. 15.43 lacs, whereas the base model of Fortuner Sports Utility Vehicle (SUV) is offered for Rs. 20.89 lacs and the top for Rs. 22.04 lacs (all ex-showroom prices of Delhi).
Apart from manufacturing its vehicles on domestic turf, the auto maker is also involved in several kinds of auto imports and exports. Hence, INR depreciation imposes significant losses to TKM, a Joint Venture (JV) between Japan's Toyota Motor and Indian Kirloskar Group. The imports of TKM include several critical components such as engines and transmissions, which are installed in the company’s different models.
With the scheduled price hike, TKM is aspiring to recoup for the losses and is also aiming at some financial foothold before the end of Indian festival season, when most of the car makers offer several goodies and freebies.
Under: Toyota Corolla Altis News
Browse: Toyota
Comments on this article
Latest News
Top News
 | Datsun gets ready to take on Maruti Suzuki on 15th July14 June 2013, 11:18 IST by CarTrade Editorial Team Datsun, the completely owned brand of Japanese auto maker Nissan, will be soon launching its new entry level hatchback in the Indian market. Reportedly, the company is all set to make its... Under: Datsun 0 comments. |
 | Mahindra & Mahindra to launch 3 new SUVs in India by 201613 June 2013, 11:01 IST by Roger DSouza The largest utility vehicle manufacturer in India, Mahindra & Mahindra has been making plans to gain a bigger chunk of the fast growing Sports Utility Vehicle (SUV) segment in the market. In... |
 | Launch of 2013 Skoda Octavia seems just few days ahead12 June 2013, 12:26 IST by CarTrade Editorial Team Skoda, the completely owned division of German auto Group Volkswagen, seems to be preparing for the launch of a reworked model of Octavia. Interestingly, the latest generation model of Octavia has... Under: Skoda Octavia 0 comments. |
 | Ford introduces limited edition model of Classic sedan15 June 2013, 11:14 IST by CarTrade Editorial Team Ford India, the domestic arm of American auto maker, has come up with new features for its flagship Classic sedan. The auto maker has introduced a limited edition model of Classic sedan in the... Under: Ford Classic 0 comments. |
Latest News and Headlines
Jun 18, 2013 
Jun 18, 2013 
Jun 18, 2013 Get complete details of new cars
Select your city and browse our used cars
Related News
Jun 13, 2013 
Jun 08, 2013 
Jun 04, 2013 
Jun 01, 2013