Toyota to increase prices by up to 1% from April, will affect select models

Toyota Kirloskar Motor has announced that the automaker will be increasing the prices of select models from April 1, 2024. The company is set to increase prices by up to one per cent on certain variants of the select cars and attributed the inflating prices to escalating input costs and operational expenditures.

This will be Toyota’s second price hike this year, having increased prices across its range in January 2024. The company joins Honda Cars India, which will also hike prices across its lineup from next month onwards. While the price hike may seem minimal, it is expected to affect the Toyota Fortuner, Hilux, Innova Hycross, Innova Crysta, Urban Cruiser Hyryder and Glanza.

Toyota has the Maruti Fronx-based SUV in the works that will arrive on April 3 (HT Auto/Sabyasachi Dasgupta)

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Toyota has the Maruti Fronx-based SUV in the works that will arrive on April 3 (HT Auto/Sabyasachi Dasgupta)

In a statement, the automaker said, “Toyota Kirloskar Motor today announced that the company is planning to increase the prices of certain grades of its specific models effective April 01 2024. With an anticipated 1% increase, the move is attributed to escalating input costs and operational expenditures."

Price hikes are expected around the new financial year and we expect more automakers to hike prices across their respective product range in the coming weeks. Toyota is also gearing up to introduce its new offering based on the Maruti Suzuki Fronx on April 3. The model could be christened the Toyota Urban Cruiser Taisor upon launch and will factor in the price hike. The automaker will also bring the new GX (O) variant to the Innova Hycross petrol, which has been listed on the brand website.

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