Toyota To Hike Prices

Toyota India seems to be playing games of late. Some days back Toyota decreased the price of its cars and now Toyota will increase the prices of the Innova (in the range of Rs 10,000-25,000) and Corolla Altis (Rs 16,000-25,000) from January 1.

Toyota India Deputy Managing Director (Marketing) Sandeep Singh, said: “Due to circumstances beyond our control, such as the increase in the rupee, dollar exchange rate by 20 per cent in the last three months, we have been forced to increase the price of our vehicles.”

However, Toyota has tried to absorb the price increase as much as possible, limiting the increase to the customer, he said. Singh indicated that Toyota India would be actively promoting the Corolla Altis and Innova and will be able to maintain its market share for both the models in 2009.