Toyota Kirloskar Motor announces price hike effective 1 January, 2024

Toyota Kirloskar Motor has announced a price hike, effective 1 January, 2024, in order to partially offset the rising input costs.

The price increase ranges from 0.5% to 2.5% on select models and variants. 

"However, the overall price adjustment has been carefully moderated, taking into account a minimum impact on our esteemed customers," the company noted in a press release. 

Toyota Kirloskar Motor joins a host of other companies that had announced price hikes, effective 1 January. 

The company today also made additional organisational changes, the second one, in the span of a few days. 

It also registered its best-ever annual sales in CY2023, at 221,356 units, on the back of sustained demand for its MPVs and SUVs as also the rebadged models like the Glanza, Urban Cruiser Hyryder and Rumion, ramped-up production and customer-friendly initiatives, which drove sales to an all-time high.