Toyota Kirloskar Motor (TKM) on Thursday said it is considering to increase prices of its models by up to 3 per cent from January, to offset the impact of rising input costs.
The company considered the price rise after reviewing input and freight costs periodically, which is also a general industry phenomenon, TKM said in a statement.
TKM has been absorbing the additional costs all this while, protecting the customers from price increase, the spokesperson added.
“However, due to the continued pressure of high costs, Toyota is considering a price increase of up to 3 per cent across models with effect from January,” the spokesperson said.
Earlier this month, Isuzu had announced to increase prices of its models by up to Rs 1 lakh. Last month, Skoda Auto India announced that it will hike prices of its vehicles by 2-3 per cent across the entire model range from January 1.