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Toyota India Announces Price Hike up to 2.5% Due to Rising Input Costs

January 1, 2024 – Toyota Kirloskar Motor (TKM) has officially declared an increase in the prices of its products, effective from today. The hike, varying between 0.5% to 2.5%, will be applicable to select models and variants. This step is a direct response to the escalating input costs that have been impacting the automobile industry.

TKM emphasized that the decision to raise prices was necessary to mitigate the effects of these rising costs. Despite this adjustment, the company assures that it has made every effort to minimize the financial impact on its customers, indicating a careful consideration of their needs and economic constraints.

In its statement, Toyota Kirloskar Motor expressed deep appreciation for the trust and confidence their customers continue to place in their wide range of products. Affirming their customer-first approach, TKM reiterated its commitment to meet the dynamic needs of the market, ensuring that their standards of quality and service remain uncompromised even amidst these changes.

The company’s decision is reflective of a broader trend in the automotive sector, where manufacturers are grappling with increased costs of materials and production. TKM’s approach, however, highlights a balanced effort to sustain business growth while also prioritizing customer satisfaction and loyalty.

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