Toyota Kirloskar Motor has announced increase in prices of its models Toyota Innova and Corolla Altis. Toyota Corolla Altis got costlier by Rs. 16,000 and Rs. 25,000 and the MUV Innova experienced price rise between Rs. 10,000 and 25,000.

According to the company officials, the company has tried its best to restrain the price rise and reduce the burden on the customer to the maximum extent. It has absorbed certain amount of the increase internally as well.

“Due to circumstances beyond our control, such as the increase in the rupee, dollar exchange rate by 20 per cent in the last three months, we have been forced to increase the price of our vehicles.” said by Toyota Kirloskar Motor, Deputy Managing Director (Marketing) Sandeep Singh.

The official also added that even after the government CENVAT price cut of four percent excise duty, the current price increase was unavoidable. The company is actively promoting on its Corolla Altis and Innova and able to maintain its market share for both the models in 2009.