Toyota To Hike Prices In Jan 2017; Launches Remember December Campaign

Toyota will hike prices by up to 3 per cent across its line-up

Toyota Kirloskar Motor has announced that, effective January 01, 2017, it will increase the prices of vehicles in its line-up by up to 3 per cent. The Japanese automaker highlighted in an official release that the announcement is in line with the general industry trend, prompted by the increasing cost of manufacturing and a consistent upward trend in foreign exchange rates. Though already riding high thanks to the success of the Innova Crysta, the automaker registered a 10 per cent increase in domestic sales last month, courtesy the new Fortuner. 

Mr N. Raja, director and sr. vice-president, marketing and sales, Toyota Kirloskar Motor, said, “There has been an increase in pricing of raw material commodities like steel, aluminum, copper and rubber over a period of the last six months and this puts a lot of pressure on us as all this has been leading to a higher input cost on our end. Another factor leading to higher input cost in our case is the appreciation of yen in the international market which has increased the cost of parts that we import from Japan.”

Remember December Campaign

Toyota has just introduced its year-end campaign, christened ‘Remember December’. Under this scheme, which is probably a fallout of demonetization, the automaker is offering 100 per cent on-road financing, along with attractive EMI schemes – such as ‘buy now and pay in March 2017’ – on its entire line-up. Additionally, it is offering special EMI packages of as low as Rs 22,999 on select models of the Innova Crysta.

Speaking about the December campaign, Mr N. Raja, said, “The Remember December campaign is not just about offering benefits on our products but it is also an effort from our side to meet the needs of the customers to help them overcome difficulties caused due to demonetization. Not just that, we are also accepting cashless payments through various channels of e-transfers to ensure smooth & hassle free buying experiences for our customers thus adding more value to the customer experience and meeting their expectations.” 

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