BENGALURU: Car maker Toyota Kirloskar has raised the price of its vehicle to counterbalance the effect of adverse foreign exchange and rising input costs.
"There has been increased pressure due to appreciation of yen and dollar. Besides, input costs for commodities like steel have gone up. We have been absorbing the cost but we will be reviewing it soon," TKM Director and Senior Vice President N Raja asserted.
When questioned about the price hike, he alleged that, “It could be the end of this month or very early next month." He added, "It is usually 2-3 per cent and this time around it could be the same."
N Raja Added, “The appreciation of dollar and yen is around 10-15 per cent. The company imports components from Thailand and Japan.”
Huge range of vehicles is being sold by TKM which begins from entry level hatchback Liva to top end SUV Land Cruiser LC 200. The price range of the vehicle lie between Rs 5.13-1.34 crore.
As of now, organizations like Maruti SuzukiBSE – 1.34 % India and Hyundai have expanded cost of their vehicles.
At the point when gotten some information about the effect of the progressing distress in Karnataka because of Cauvery issue, Raja said the organization's plant at Bidadi close here has been closed today.
"We will need to assess the circumstance before taking further choice," he included.