Toyota Kirloskar Motors (TKM), the Indian unit of the Japan’s leading car maker Toyota Motors, said on Friday that it will be raising the prices of its India portfolio cars following the announcement of car excise and import duty hike in the Union Budget 2012-13. The Toyota Kirloskar cars will get expensive in the range of Rs.11,500 to Rs.80,000. The price hike for the models imported in India as CBU will soon be announced.
In a statement given on Friday, Mr. Sandeep Singh, Deputy Managing Director (Sales and Marketing), said, "A rise in excise and import duty and input costs will not be very conducive for the auto industry as additional burden of increased duty will directly affect the buyers and hence would lead to slowdown in sales. CBU (completely built unit) prices will also be affected on account of rise in customs duty."
The size of the price hike for different Toyota portfolio models will be as follows – Etios Liva Petrol by Rs.11,500; diesel version of entry level sedan Etios by Rs.13,600; petrol version of compact hatchback Etios Liva by Rs.9,500; diesel version of Liva model by Rs.11,500; premium sedan Corolla Altis Petrol by Rs.39,000, Corolla Altis Diesel Rs.26,500, MUV Innova by Rs.35,200 and luxury SUV Toyota Fortuner by Rs.80,000.
