Toyota Kirloskar Motor (TKM) has reportedly increased the prices of its best selling models Innova Crysta and Fortuner by up to 2%, effective from May. TKM says the price hike is the result of rising commodity prices. Prices of the other models continue to be unchanged. Last time TKM hiked the prices of all its models was on January, this year.
TKM Director and Senior Vice President, Sales and Marketing, N Raja has said that the company is facing a challenge in terms of commodity prices, particularly metals, and therefore in order to offset the impact, the cost has been passed on to the customers.
While the price of the Fortuner SUV has been hiked by 2%, the Innova Crysta MPV gets a 1% hike.
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