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Bengaluru: Toyota Kirloskar Motor will soon make an increment of 2-3 percent in the current ex-showroom prices of their entire range in India. TKM Director and Senior Vice President N Raja told, "There has been increased pressure due to the appreciation of yen and dollar. Besides, input costs for commodities like steel have gone up. We have been absorbing the cost but we will be reviewing it soon."
When asked about the reason behind this hike, the car maker says, the appreciation of yen and dollar has made them take this step. Besides, importing components from Thailand and Japan increased the costs as well. The dollar and yen have accounted for an appreciation of around 10-15 percent in the past couple of months.
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From entry-level hatchback Liva to top-end SUV Land Cruiser LC 200, the diversified current range of vehicles from the company is what retaining the repo of the giant in the Indian auto segment.
Further, the profit has also been affected by the ongoing increase in the prices of steel and other commodities. Speaking about when this hike is going to take place, Raja says, probably by the end of this month or the starting of October, the prices for the Toyota range would be hiked up. This naturally means, the recently launched facelifted Etios sedan and the Liva hatchback will be under consideration as well.
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