Toyota announces price hike by 2 to 4% across models

Majority of the car makers in India have responded to the hike in excise duty with an increase in the prices of their products. Toyota India, the Indian subsidiary of the Japanese Toyota Motors has officially announced that its entire range of products will see an increase of 2 to 4 percent in the price tags. The Deputy Managing Director of Sales and Marketing of Toyota India, Mr. Sandeep Sigh stated that the hike in excise and import duty will not prove to be very productive for the Indian auto sector as it will cause an extra burden on the customers which will eventually slow down the sales. He added that the CBU prices too will be affected by this hike and the company has no choice but to pass on the load to the buyers with an average increase of about 2 to 4 percent in the prices.

Toyota has revealed the price hike for its different products, however the price rise in CBU have not been confirmed yet but are expected to be announced soon. The Toyota Etios petrol price has increased by Rs. 11,500 and the diesel version of Etios has seen a hike of Rs. 13, 600. There has been an increase of Rs 9,500 on Liva petrol and Rs 11,500 on Liva diesel. For Corolla Altis petrol the prices are increased by Rs 39,000 and for Corolla Altis diesel the prices are increased by Rs 26,500. Toyota Innova has witnessed a price hike of Rs 35,200. Toyota Fortuner has seen the steepest price hike of Rs 80,000.