[ad_1]
Toyota Kirloskar Motor (TKM) on Friday said it will hike prices of its compact SUV Urban Cruiser and premium hatchback Glanza from May 1, 2022 to offset the increase in input costs.
At present, the Urban Cruiser is priced between Rs 8.88-11.58 lakh while the Glanza is tagged at Rs 6.39-9.96 lakh (ex-showroom Delhi), depending on the variants.
“This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers,” a TKM spokesperson said in a statement.
The company remains committed to catering to the ever-evolving needs and requirements of customers by consciously minimising the impact of rising costs on consumers, the spokesperson added.
Increasing prices of commodities like steel, aluminium and other precious metals as well as higher costs of other raw materials have had an impact on automobile manufacturers.
Car market leader Maruti Suzuki India announced price hike across its entire model range this month amid rise in input costs.
Last week, Tata Motors had hiked prices of its passenger vehicles by 1.1 per cent to partially offset rising input costs, while in the beginning of the month it increased prices of its commercial vehicles by 2-2.5 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
[ad_2]
Source link