Image Credit source: Toyota
The new prices will be effective from May 1, 2022. However, the company has not yet disclosed how much price hike will be in the prices of the car.
Japanese automaker company Toyota (Toyota) Kirloskar has announced a price hike for its two popular cars, the Urban Cruiser and the Glanza. According to the information, the new prices will be effective from May 1, 2022. However, the company has not yet disclosed how much price hike will be in the prices of the car. Toyota Urban Cruiser (Toyota Urban Cruiser) And both the Glanza are sold globally as a partnership between the Toyota and Suzuki brands. Urban Cruiser and Glanza (Toyota Glanza) The Maruti Suzuki Vitara Brezza compact SUV and premium hatchback are rebadged versions of the Baleno.
Where, the prices of petrol and diesel are increasing continuously, due to which this decision may also affect the sales of the automaker. While inflation is influencing people’s vehicle buying decisions, as well as rising car prices, the recovery process of the auto industry from COVID-19 and related impacts may further impact the auto industry.
The automaker claims the hike is needed to partially offset the increase in input costs due to rising raw material costs. The automaker claims, “The overall price hike has been reduced keeping in view the impact on our valued customers.”
Toyota is not the only car manufacturer in India that has announced a price hike in its cars in the recent past. Several other car brands also announced hike in prices for their respective vehicles due to rising raw material cost and chip shortage. Earlier this year, several automakers like Mahindra, Maruti Suzuki, Toyota, BMW and Mercedes-Benz announced price hikes across their model lineups for similar reasons.
This announcement comes just after Toyota announced to reach the milestone of producing and selling two million cars in India since its inception. The automaker on Thursday announced that the Glanza is the brand’s two millionth model to be sold in India.