Toyota To Hike Prices From January 2022

Almost the entire Toyota portfolio for India is known to get more expensive this new year!

Toyota has announced a price hike for all models sold in India from January 2022. The Japanese manufacturer has blamed the increased input costs for the proposed spike in prices for popular nameplates such as Glanza, Innova Crysta, and Fortuner.

The manufacturer, however, hasn’t announced how much each model would cost post the hike. Earlier this month, carmakers including market leader Maruti Suzuki had announced price hikes across its range. The ongoing shortage of semiconductors has also contributed to the disruption of the supply chain, making manufacturers scramble to meet production deadlines, and increasing the input costs in the process.

ALSO READ: Semiconductor Shortage And The Automotive Industry

According to data released earlier this November, Toyota had clocked a sale of 12,440 units in October 2021, registering a 34% rise in Month-on-month figures. Till October, the company had achieved 78% cumulative growth in sales with its flagship models Toyota Innova Crysta and Toyota Fortuner leading their respective segments.

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