Toyota Raising Vehicle Prices by 1.5% in India
Due to the falling rupee value, the price for entry-level Etios sedan, Etios Liva hatchback, Innova and Corolla Altis will ramp up after all. Toyota Kirloskar Motor managing director and chief operating officer Sandeep Singh said earlier that the prices might be raised if the rupee depreciation continues.
So high import duties increasing the cost of foreign built parts used for the local auto industry, added to the continuos rupee depreciations resulted in the company’s decision to raise the price on its best-sellers.
The Indian rupee has depreciated by about 25 percent since the start of the fiscal year to present day.
Story via manoramaonline