Toyota Kirloskar Motor, the joint venture through which Toyota operates in India, will increase prices by up to 3% across all models from January, 2018, to offset impact of rising input costs.

As per a company statement, “There has been an increase in the cost of manufacturing of vehicles. Frequent fluctuation in the global commodity prices and foreign exchange rates have continued to impact our input costs, from both domestic as well as import fronts.”

It further stated that, the company has been absorbing the additional cost and has protected the customers from hike in prices, but due to continuous pressure of high cost, the company is considering to increase the prices of its models by up to 3%.

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