New Delhi: Toyota Kirloskar Motor (TKM) on Friday, April 29, said it will hike prices of its compact SUV Urban Cruiser and premium hatchback Glanza from May 1, 2022 to offset the increase in input costs. “This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers,” a TKM spokesperson said in a statement.
At present, the Urban Cruiser is priced between ₹8.88-11.58 lakh while the Glanza is tagged at ₹6.39-9.96 lakh (ex-showroom Delhi), depending on the variants.
Increasing prices of commodities like steel, aluminium and other precious metals as well as higher costs of other raw materials have had an impact on automobile manufacturers.
The company remains committed to catering to the ever-evolving needs and requirements of customers by consciously minimising the impact of rising costs on consumers, the spokesperson said.
Earlier Maruti,Mahindra& Mahindra also increased the price of the cars.Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire model range, between 0.9 per cent to 1.9 per cent, with immediate effect.
The company, which currently sells a range of vehicles from Alto to S-Cross, said it has taken the decision to hike prices due to an increase in input costs. Mahindra & Mahindra said it has increased prices of its entire model range by 2.5 per cent with immediate effect.
This will result in an increase of ₹10,000 to ₹63,000 on the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement.
The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added.