Japanese automaker Toyota announced a price hike of 3% on its entire range of cars starting from 1 January 2016 in India. Increased input costs & devaluation of Rupee are likely the main reasons for price hike.
The director and senior vice-president of Toyota Kirloskar Motors N Raja said ” We have been holding back a price hike and absorbing for a long time, but input costs, electricity, maintenance and foreign exchange have increased. Therefore, we have decided to increase prices of our vehicles from January”.