Toyota Kirloskar Motor (TKM) has recently announced a price increase across its entire model range, effective July 5, 2023. Even though the firm hasn't disclosed the models' increased prices, it has stated that the rise is a result of rising input costs. The Glanza, the Urban Cruiser Hyryder, the Innova Hycross, the Fortuner, the Legender, the Vellfire, and the Land Cruiser LC300 are among the various models that Toyota offers in our country. Customers may anticipate a minor price rise, differing according to models and variations, although the carmaker hasn't formally revealed the exact percentage increase for each model. Furthermore, Lexus, the carmaker's premium division, recently increased pricing for the ES 300h by up to 2 per cent and gave the same reason for the move.
Toyota Price Hike
An official statement issued by the company read, "Toyota Kirloskar Motor (TKM) today announced that the company has realigned the prices of its models with effect from 5th July 2023. The increase was necessitated to partially offset the rising input cost. As a customer-centric company, we remain committed to cater to the ever-evolving needs of the market and all efforts have been made to ensure that the impact of the cost increase passing on to our customers is minimum."
The Toyota Innova Hycross now has a starting price of Rs 18.82 lakh, up around Rs 27,000 from the base trim, according to the manufacturer's website. On the other hand, the Toyota Urban Cruiser Hyryder now starts at Rs 10.86 lakh; the Fortuner lineup begins at Rs 32.99 lakh; all prices represent modest increases over prior pricing. The overall disparity across the models is predicted to be in the range of 1.5 to 2 per cent. For the uninitiated, this is the second price hike implemented by Toyota in the current fiscal year. The first increase, in May, covered all of the company's products and included increases of up to Rs 60,000.
Toyota Sales: June 2023 Sales Figures
The company recently disclosed its sales figures for the month of June, revealing that the brand sold 19,608 units, representing a 19 per cent increase compared to June 2022 sales. In contrast to the previous year, Toyota's half-yearly and quarterly revenues have also seen a surge. According to the firm, this is due to the popularity of its new models, the Urban Cruiser Hyryder and the Innova Hycross, as well as solid sales statistics for the remainder of its portfolio.
Toyota Latest Developments
Toyota India will shortly begin delivering the Invicto to Maruti Suzuki, which launched on July 5 in the Indian market at Rs 24.79 lakh (ex-showroom). The automaker also intends to roll out the 2024 iteration of the Vellfire in India later this month. The all-new Vellfire made its global debut in June, with a radically updated design, revamped cabin, and additional technology on board. The upcoming MPV will be equipped with a 2.5-litre petrol hybrid drivetrain as well as a 2.4-litre turbocharged petrol engine.
The next-gen Vellfire will also arrive with ADAS (Advanced Driver Assistance System) technology. Notably, it will be the first MPV in India to offer the function when it comes. Moreover, it will comprise Toyota's Safety Sense system, which offers amenities like remote parking, radar cruise control, lane-tracing assistance, and proactive lane-change driving support.