Toyota Glanza, Innova Hycross, Fortuner get expensive from July 5

Toyota Kirloskar Motor has announced that the automaker has hiked prices across its vehicle range with effect from July 5, 2023. The Japanese carmaker cited rising input costs as the reason for increasing car prices. The company said the realigned prices were necessary to partially offset the increase in the cost of raw materials.

The Toyota range comprises the Glanza, UC Hyryder, Innova Hycross, Fortuner, Legender, Vellfire and Land Cruiser LC300. The automaker has not confirmed the quantum of the price hike on each model. But do expect a marginal hike in prices, depending on the model and variant. More recently, Toyota’s luxury arm Lexus hiked prices on the ES 300h by up to 2 per cent, citing similar reasons.

In a statement, the automaker said, “Toyota Kirloskar Motor (TKM) today announced that the company has realigned the prices of its models with effect from 5th July 2023. The increase was necessitated to partially offset the rising input cost. As a customer-centric company, we remain committed to cater to the ever-evolving needs of the market and all efforts have been made to ensure that the impact of the cost increase passing on to our customers is minimum."

As per the company’s website, the Toyota Innova Hycross is about ₹27,000 more expensive on the base trim and now starts at ₹18.82 lakh. The Toyota Urban Cruiser Hyryder now starts from ₹10.86 lakh, while the Fortuner range now starts at ₹32.99 lakh (all prices, ex-showroom India), all marginally higher than before. The delta is expected to be around 1.5-2 per cent on the models. This is Toyota’s second price hike in the current fiscal. The company previously hiked prices in May this year by up to ₹60,000, which affected all models in the automaker’s lineup.