Toyota Kirloskar Motors has announced that it will increase prices of its models by up to three per cent from 1 January 2018. This decision has been taken after reviewing input and freight costs.
The carmaker has not specified the exact hike, as this will vary from model to model and also depend upon the variant. The variant-wise prices will be made available in the new year. All dealerships will be informed and follow the new pricing then.
This price hike doesn't come as a surprise as many manufacturers have taken these steps due to a rise in production costs. Earlier this month, Isuzu had revealed its plans of increasing the prices of its models by up to Rs 1 lakh. Also, Skoda India had announced an increment in prices across its portfolio by up to two-three per cent starting from 1 January. We can expect more manufacturers to join the bandwagon soon.