Toyota announces second price hike for its cars in 2024
Toyota has announced a price increase for its entire model range in India, effective from April 1, 2024. This marks the second instance of a price hike by the Japanese automaker within the year, following an earlier increase in January. The company attributes this decision to escalating input costs and operational expenses. The anticipated increase is around 1%. Popular models such as the Fortuner, Innova Hycross, Urban Cruiser Hyryder, and Glanza are expected to be impacted by this decision.
Other automakers expected to follow suit
The price increase by Toyota is expected to set a trend among other car manufacturers. Companies like Honda Cars India and Kia India are anticipated to announce their own price increases soon. Currently, Toyota offers a diverse range of 11 car models across India, including popular ones like Glanza, Rumion, Innova Hyross, Vellfire, Fortuner Legender, Urban Cruiser Hyryder, Land Cruiser, Hilux, and Innova Crysta.
Toyota to launch new model based on Maruti Suzuki Fronx
In addition to the price increase, Toyota is preparing to expand its model range with a new vehicle based on the Maruti Suzuki Fronx. The new model, potentially named the Toyota Urban Cruiser Taisor, is set to debut next month and will incorporate the new pricing structure. This development comes as part of Toyota's ongoing efforts to diversify its offerings in India.
