Toyota to Get 3 Percent Costlier from January 1, 2017
Toyota to Get 3 Percent Costlier, Toyota Kirloskar Motors announced on Monday, to hike the prices of the four wheelers by 3% from January 1, due to increase in input cost and rise in foreign exchange rates.
Reason behind increased prices:-
According to the director and senior VP (marketing and sales) Mr. N. Raja, raw materials like rubber, steel, aluminum, copper etc have witnessed a lot of price changes in the past six months, which has put a lot of pressure on the manufacturing process. Apart from this, the falling value of Yen in the international market has also thrown adverse impact on the production cost. The import cost from Japan has increased resulting in the increase in input cost as well. He said that the new rates will be implicated from the first day of the New Year i.e. 1st January 2017 leading to the price increase of 3% in each four wheeler.