Toyota will Hike the Prices of Urban Cruiser and Glanza

On Friday, Japanese automobile giant, Toyota Kirloskar Motor (TKM) announced it will increase the prices of its compact SUV Urban Cruiser and premium hatchback Glanza from May 1, 2022, in order to deal with the increase in input costs. Currently, the Urban Cruiser comes at a price tag between Rs 8.88-11.58 lakh while the Glanza is priced at Rs 6.39-9.96 lakh (ex-showroom Delhi), depending on the variants. The carmaker in its statement said, "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 spokesperson of the company further said that the automobile manufacturer remains committed to catering to the ever-evolving needs and requirements of its customers by consciously minimizing the impact of rising costs on consumers. Rising prices of commodities like steel, aluminum, and other precious metals as well as increased costs of other raw materials have affected the automobile manufacturers. Earlier this month, the biggest automobile manufacturer in India Maruti Suzuki India announced a price hike across its entire model range amid a rise in input costs.