After Mercedes-Benz, Toyota is the next manufacturer to announce a price hike in India, citing rising input costs.
Beginning from January 2016, all Toyota cars in India will cost as much as 3% higher than before. The Japanese manufacturer is yet to provide hiked price figures for each car.
"We have been holding back a price hike and absorbing for a long time, but input costs, electricity, maintenance and foreign exchange have increased. Therefore, we have decided to increase prices of our vehicles from January," Toyota India director and senior vice-president, sales and marketing, N Raja told PTI.
"We are still finalising the details, but it will be up to 3 per cent,’’ he added.
Toyota recently launched the Land Cruiser 200 in India at a price tag of Rs 1.29 crore (ex-showroom, Delhi). The luxury SUV sits at the top of a lineup which also includes Etios, Fortuner and Innova, among others.
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