Toyota Kirloskar Motor (TKM)on Friday announced it will raise prices of some of its products from the following month to balance the rise in input costs.
TKM Deputy Managing Director N Raja said in a statement said, “We have been absorbing additional costs through a bouquet of cost reduction measures including refinement in the production process. However, considering the trend of continuous increase, we are constrained to pass on a small portion to the customers.”
The firm will maintain its efforts to include prices and give the valid price to its true customers, he added. TKM is yet to reveal the models that would become expensive. The company markets a variety of products including popular multi-purpose vehicle Innova and premium sports service vehicle Fortuner.