Toyota hikes prices of key models

Toyota Kirloskar Motors has announced that it will hike the prices of its key models by up to 1.50 per cent with effect from September 21. The Japanese automaker has attributed the price hike to inflation, falling value of the Rupee and increase in cost of raw materials. This is their second hike in less than 15 days. Toyota had previously hiked the price of the Camry and Fortuner by one per cent on the second of this month.   

The models whose prices have been hiked include the Etios, Liva, Corolla and the Innova. The Etios gets a price hike in the range of Rs 4000 to Rs 8000 while its hatchback sibling the Etios Liva gets a price hike in the range of Rs 4500 to Rs 8600. Among its larger vehicles, the Corolla Altis gets a hike in the range of Rs 11, 000 to Rs 24, 000 while the Innova MPV gets a hike in the range of Rs 7000 to Rs 11, 000. 

The auto industry as a whole has been seeing bad numbers and negative growth for more than six months now.  It is likely that by the end of month, more manufacturers will be forced to raise their prices once again.