Toyota Kirloskar Motor to hike vehicle prices from April 1 to offset input cost

Automaker Toyota Kirloskar Motor (TKM) on Saturday said it will increase the price of its vehicles from next month onwards. The revised prices will come into effect on April 1, 2021. The firm will realign the prices of its models, with effect from April 1, 2021, Toyota Kirloskar Motor (TKM) said in a statement. The company added the increase in prices is necessary to offset the substantial hike in input costs.

Toyota Kirloskar Motor (TKM) further added, "During such testing times, it has been our endeavour to absorb cost increases through our internal efforts, and only a minimal portion will be reflected onto the prices,".

The company stated as a customer-centric firm, it has reinforced its commitment to serve the "ever-evolving" needs of customers. It has done so by deliberately minimising the effect of rising input costs on the consumers' pocket.

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