Toyota to raise prices by up to 1% starting in April, impacting specific models

Toyota Kirloskar Motor has announced a price hike of up to one per cent on select models from April 1, 2024, citing escalating input costs and operational expenditures. This will be the company’s second price increase this year, following January’s hike.

While the exact details of the price hike have not been disclosed, models expected to be affected include the Toyota Fortuner, Hilux, Innova Hycross, Innova Crysta, Urban Cruiser Hyryder, and Glanza. Honda Cars India also announced a price hike across its lineup starting next month.

In a statement, Toyota Kirloskar Motor stated, “The move is attributed to escalating input costs and operational expenditures.” This price hike trend is expected to continue among automakers as the new financial year begins.

Additionally, Toyota is gearing up to launch a new model based on the Maruti Suzuki Fronx on April 3, which may be named the Toyota Urban Cruiser Taisor. The automaker will also introduce the new GX (O) variant to the Innova Hycross petrol model, as listed on the brand’s website. The anticipation of the launch may factor in the price hike.