Car-maker Toyota Kirloskar Motor on Monday said it will hike prices of its vehicles across models soon to offset steep input costs and foreign exchange variation."There are cost pressures from different commodities as well as yen variation which is affecting us. We will obtain the final call in this regard (price hike) by December 20," Toyota Kirloskar Motor Deputy Managing Director (Marketing) Sandeep Singh said.
About the quantum of proposed hike, he said, "we are working on this...we will obtain the final call by December 20."
Prices would be hiked across all offerings, excluding the Etios sedan, launched early this month, he added. "Increasing input cost is our major concern and a few component prices have gone up. So, we are enforced to hike prices again."
India's top car-maker Maruti Suzuki has also hinted at a price hike soon due to high product prices. In addition, General Motors India and Hyundai Motor India have said they would be hiking prices by up to 2 per cent by January.
Toyota Kirloskar Motor has two plants in the country with a yearly capacity of 1,50,000 units. The firm now sells its premium sedan Corolla Altis, SUV Fortuner and utility vehicle Innova in India, all manufactured at its ability in Bangalore, and imports luxury sedan Camry and premium SUV Prado.
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