Toyota Hikes Prices Across Model Lineup By Up To 2.5 Per Cent For 2024

Toyota Kirloskar Motor has announced it has increased prices between 0.5 per cent and 2.5 per cent on select models and variants. The company has hiked prices with effect from January 1, 2024. The Japanese car giant said that the price rise was necessary to offset rising input costs, and the price adjustment was “carefully moderated” to ensure a minimum impact is passed on to the customers. 

Also Read: Toyota Innova Hycross Prices Increased By Up To Rs 42,000
 

The hike is in line with the recent price revision across the brand’s model lineup. While we told you about the Innova Hycross getting more expensive by up to Rs 42,000, the Urban Cruiser Hyryder saw a hike of up to Rs 28,000, and the Innova Crysta is now more expensive by up to Rs 25,000. The updated prices are now listed on the company’s website. 

A statement from Toyota India read, “Toyota Kirloskar Motor (TKM) today announced a price increase of its products, ranging from 0.5% to 2.5% on select models & variants with effect from January 1, 2024. This increase was necessitated to partially offset the rising input costs. However, the overall price adjustment has been carefully moderated, taking into account a minimum impact on our esteemed customers. We are always grateful for the continued trust and confidence, our customers have shown in our entire product portfolio. As a customer-centric company, TKM remains steadfast in its commitment to catering to the ever-evolving needs of the market.”

Also Read: Toyota, Honda, Nissan Join Hands To Develop Automotive-Use Semiconductors
 

While Toyota announced the price revision in the new year, nearly all carmakers declared price hikes for 2024 in December itself. Price hikes are rather common around the new year’s with manufacturers aiming to mitigate costs, especially after churning out discounts, offers, benefits and more around the festive season right before. 

Toyota’s range starts from the Glanza hatchback, moving up with the Rumion, UC Hyryder, Innova Crysta, Innova Hycross, Hilux pick-up, Fortuner and Camry in the mass market space. The automaker also retails premium models like the Vellfire luxury van and Land Cruiser LC300.