Toyota hikes car prices up to Rs 50,000

Saturday, March 14, 2009 at 5:03 am

Toyota Kirloskar Motor’s (TKM) on Friday (March 13) said that it has sold 3,647 units of its multi-purpose vehicle new Innova since its launch in late January. The company in a statement today said that the product had performed “well above expectations in all the key regions across North, East, South and West Zones”.

“We expect to keep up the momentum in the coming months as well,” said Toyota Kirloskar Motor Deputy Managing Director — Marketing –Sandeep Singh. The highlighted features of the new Innova include automated climate control, new steering control and multi information display.

The company on Friday announced an impending price hike in its key models, Innova and Corolla Altis, effective April 1, 2009. The price increase will be in the range: Innova Rs 10,000 – 25,000, Corolla Rs 10,000 – 50,000, the statement said. Commenting on the increase, Sandeep Singh said that “so far, we have tried to absorb price increases as much as is possible, in order to limit the increase passed on to the customer.

“However, due to unavoidable reasons such as recent changes in the rupee/dollar and yen/dollar exchange rate, in addition to rising operational and raw material costs, we are now required to make necessary revisions in pricing.” He also indicated that TKM would continue to actively promote the Corolla Altis and the new Innova and would look at maintaining its market share for both models in 2009.

(With inputs from agencies)

( This post is from an independent writer. The opinions and views expressed herein are those of the author and are not endorsed by APakistanNews.Com.)

Toyota hikes car prices up to Rs 50,000

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