Toyota has announced a price hike for the Innova Crysta and the Fortuner. This step has been taken to offset the increase in commodity prices and other input costs.
With the increase in commodity prices, Toyota has decided to hand down the additional cost to the customers. The hike in price amounts to up to two per cent of the sticker price for the Innova Crysta and one per cent for the Fortuner. With this, the Innova Crysta has become pricier by Rs 15,000 to Rs 20,000 across the range. Fortuner customers on the other hand will have to shell out additional Rs 25,000 to Rs 35,000 for all variants. The new prices have been effective from May 1. Speaking to the press during the launch of the Innova Touring Sport, N. Raja, director and senior VP, sales and marketing, Toyota Kirloskar Motor said, “We are facing a challenge in terms of commodity prices, particularly metals, and therefore in order to offset the impact, we have passed it on to the customers.”
Even though it is significantly more expensive that the model it replaced, the Innova Crysta has become the cash cow for Toyota. It continues to sell over 7,000 units a month consistently, which is a good number for the price tag it commands. The same can be said for the new Fortuner. One of the highest selling SUVs in the country, the Fortuner recorded its highest ever monthly sales number in February. Even with this price hike, we do not expect to see any drop in sales numbers of either of these utility vehicles.
