Monday, March 16, 2009

TOYOTA HIKES CAR PRICES UP TO RS 50,000


Car maker Toyota Kirloskar Motor has increased the prices of its sedan 'Corolla Altis' and multi-utility vehicle 'Innova' by up to Rs 50,000 from April 1, 2009, due to depreciation of rupee and yen against the US currency and rising input costs.

"So far, we have tried to absorb price increases (input costs) as much as possible, in order to limit the increase passed on to the customers.

"However, due to unavoidable reasons such as recent changes in the rupee/dollar and yen/dollar exchange rate, we are now required to make necessary revisions in pricing," Toyota Kirloskar Motor Deputy Managing Director (Marketing) Sandeep Singh.

The company was also affected by rising operational costs, he said in a statement.

After this price increase, Innova would be costlier by Rs 10,000-Rs 25,000, while consumers would have to pay Rs 10,000-Rs 50,000 more for Corolla Altis.
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