Commodity crisis: Toyota to raise prices by up to 4% from April

New Delhi, March 26

Automobile manufacturer Toyota Kirloskar Motor (TKM) on Saturday said it will realign the prices of its models, by up to 4 per cent effective from April 1, 2022.

According to the company, this hike has resulted due to the rising input cost, including that of raw materials.

"As a committed and customer-centric company, TKM has made all conscious efforts to minimise the impact of rising costs on consumers," said TKM Spokesperson in a statement.

On Friday, luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 per cent across its model range effective from April 1.

The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates, the company had said.

Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in price of its entire model range effective from April 1.

As per Mercedes-Benz India, the imminent price correction would be in the range of 3 per cent across the entire model range. It said that the constant increase in input prices in addition to an increase in logistics rates have been exerting significant pressure on the overall costs of the company.