Toyota Announces Price Hike For All Models In 2019

by Vivaan Khatri | 28/11/2018
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Toyota has confirmed that they will raise the price up to 4 per cent for their models, starting from the first month of 2019.

For various reason, all Toyota models will get a price hike in the upcoming year. Anyone who has eyes on Toyota cars should hurry up before the price raise takes off in January next year. They have been planning on introducing the new price since September but delay it until now.

Toyota has explained their decision is due to the depreciation of the rupee that results in the increase in the operating cost. In October, the rupee has hit the lowest point of the 74.48 against the US dollar. It has strongly affected the automobile business.

Toyota plant in India

Due to the increasing material cost and the depreciation of Rupee, Toyota has raised their cars' price

Moreover, the increasing price of raw material even makes it harder for car manufacturers to keep up their recent price. Many other automakers have announced their plan to hike up their car’s price. As noted on the release from Toyota,

“The company considered the price hike after periodically reviewing the continuous pressure of increasing manufacturing costs, which is also a general industry phenomenon.”

Noticeable, the Japanese had increased their price the last time in January 2018.

Many of Toyota’s models are locally assembled, including the best-selling Fortuner, and Innova Crysta. Other models like Corolla Altis, Yaris, Etios, Etios Liva, Etios Cross, and Camry are also India-produced. Some premium cars of the auto brand are imported to our shore as CBU (Completely build Units), that include the Land Cruiser, Prado and Prius.

Toyota’s price ranges from the most affordable Etios Liva at Rs 5.49 lakh to the most expensive Toyota Land Cruise at Rs 1.41 crore. The price of all models will be increased up to 4% from the first day of 2019.

Toyota Fortuner black on road

Toyota Fortuner which is among the best selling SUV in India will get their new price in January

Here is the release from Toyota about their upcoming price increase:

“There has been an impact in the cost of manufacturing of vehicle primarily due to rupee depreciation. Toyota has been absorbing the additional costs all this while, protecting the customers from the price increase. However, due to the continued pressure of high costs, we have to pass on a part of it to customers. Toyota is considering a price increase of up to 4% across models with effect from 1st Jan 2019. We would like to express our gratitude to our valued customers for the never-ending trust and loyalty towards Toyota Products.

Toyota products are backed by a unique combination of Toyota’s Global Promise of Quality, Durability & Reliability (QDR) offering best in class quality, unbeaten safety features, comfort, fuel economy and low cost of maintenance. The company has been constantly striving to offer the best services to enhance customer delight over the years.”

In 2019, Toyota has also planned on introducing new-gen Camry for the Indian market. The spy images of the new car have revealed it being on test mules.

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