Toyota To Hike Prices By Up To 3 Per Cent
Year-end discounts on one end and the fear of increased prices on the other will help the carmaker clear up the 2017 stockpile
Toyota has announced that it will increase the prices of its products by up to 3 per cent starting from January 2018. That means you can expect the Toyota Etios Liva's starting price to go up by about Rs 16,000 at the entry-level end. While at the higher end of the spectrum, the Land Cruiser could see its ex-showroom prices jump from Rs 1.35 crore to Rs 1.39 crore. The people's favourite Toyota Innova Crysta could see a price increase ranging between Rs 41,000 and Rs 66,000. At a flat hike of 3 per cent, the Toyota Fortuner could see its prices go up by Rs 77,000 to Rs 95,000.
Take these numbers with a pinch of salt as the official statement says 'up to 3 per cent'. In marketing terms, that means the maximum increase will apply to a particular model/models' select variant(s). If you have your eyes set on a Toyota that's not high in demand, chances are it won't see much of an increase.
As usual, the carmaker is citing increased input costs and fluctuating exchange rates as the reasons for the increase. At the same time, Toyota claims to be absorbing the losses incurred due to these reasons.
On one hand, Toyota is offering year-end discounts to clear up the inventory of 2017 cars. While on the other, the carmaker is announcing an impending price hike to attract unwavering buyers who are otherwise waiting for the next year to purchase a 2018 model car. That, however, isn’t a surprise as it is a common practice in the auto industry. Manufacturers routinely increase the prices of their cars that are seeing good demand, and they do so in small percentages to avoid putting off their potential buyers.
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