The Japanese brand currently retails Glanza, Urban Cruiser, Innova Crysta, Fortuner, Camry, and Vellfire in India. Because of increased input costs, Toyota has decided that all these vehicles will get expensive from January 2022.
Toyota cars’ price in India to increase from January 2022Toyota cars’ price in India to increase from January 2022
Toyota Kirloskar Motor has revealed that it will implement a price hike across the lineup from January 2022. This means that all the Toyota cars sold in India will get expensive from the next month. The Japanese brand currently retails Glanza, Urban Cruiser, Innova Crysta, Fortuner, Camry, and Vellfire in India. As mentioned before, all these vehicles will get expensive from January 2022. Now, the Japanese brand hasn’t revealed the quantum of price hike but we can expect it to vary for different products. According to a PTI report, Toyota’s decision to implement a price hike next month is triggered by increased input costs, including raw materials.

Toyota cars' price in India to increase from January 2022

Toyota Kirloskar Motor, in a statement to the press, said, “The price realignment is necessitated on the back of sustained increase in input costs including raw materials. All efforts have been made to ensure that the impact of the cost increase has a minimum effect on our esteemed customers.”

It is worth noting that the Japanese carmaker had increased the prices of its cars this year ahead of the festive season. With the latest announcement, Toyota has joined the league of carmakers like Maruti Suzuki, Tata, Honda Cars, etc. that have decided to increase prices from next month. All these companies have cited increased input costs and a rise in the prices of commodities such as steel, aluminium, etc. And the problem is further compounded by the ongoing semiconductor shortage that has further made vehicle production costlier. Due to unprecedented demand, there is an acute shortage of semiconductors on a global scale and this is impacted several industries, including the automobile industry that is increasingly realizing on chips for performing various functions in a vehicle. The demand-supply gap has made semiconductors expensive, thereby bumping the overall manufacturing cost of a vehicle. And while the problem seems to be easing off, experts believe that the impacts of chip shortage will continue well until the mid of 2022.