Toyota Kirloskar Motor likely to increase the prices by up to 4% effective from January 01, 2019. The company considered the price hike after periodically reviewing the continuous pressure of increasing manufacturing costs, which is also a general industry phenomenon.
Company sources indicated that there has been an adverse impact on production costs due to depreciation of the rupee. While TKM has tried its best to absorb the additional cost burden during the year, it will ultimately have to increase the price of its vehicles due to the continued pressure of high costs. The company is considering a price increase of upto 4% across models with effect from 1st Jan 2019.
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