Toyota to raise car prices by up to Rs 29,000

Toyota  Kirloskar Motor has recently announced that it will raise the prices of its vehicles by up to Rs 29,000. This will be effective from  October 1, 2010. The company has decided to take this decision for balancing with the increasing input costs and with the fluctuation in foreign exchange. A company official said that the price rise of the Toyota Innova, Corolla, Altis and Fortuner will be up to 1.50 per cent.

Multi Utility Vehicle  Toyota Innova will go through a price rise between Rs 10,000 and Rs 17,000. On the other hand, company’s  sedan Corolla Altis will see the price hike by Rs 10,000 to Rs 14,000 from October onwards. Fortuner, the sports utility vehicle  of the company  will go through a price hike of about Rs 29,000, said the official. The company’s decision of rising the prices follows M&M’s (Mahindra and Mahindra) decision of increasing the prices of vehicles in the range of Rs 3,000 to Rs 8,000 depending on the model. M&M’s decision will also be executed from October 1. Tata Motors also intends to rise prices so that it may balance the effect of increasing input costs.

Earlier this month, Hyundai Motor India had raised the cost of its vehicles. It had raised the prices across all models by up to 1.2 per cent. Maruti Suzuki,  country's largest carmaker  had also made the announcement for increasing prices. Except Maruti Alto, the company had raised the cost of all of its models.

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