With most of the auto manufacturers increasing the prices of their products, automaker Toyota too has decided to hike the prices of all its cars from the next year. According to the report, Toyota will be increasing the prices of its MPVs, SUVs, hatchback and even the compact, premium and luxury sedans from January 2018. The report also mentions that Toyota’s most selling products in the MPV and SUV category, the Toyota Innova Crysta and the Toyota Fortuner will become costlier from 2018. The price of these two cars is likely to go up by up to Rs. 1 lakh.
Toyota to increase prices of Innova Crysta and Fortuner from January 2018
It has been reported that Toyota Kirloskar Motors is all set to increase prices of all its cars from next year. The price hike is likely to come into effect from January 2018. The automaker has attributed the price hike to the fluctuating foreign exchange rates. Another factor that has largely contributed in the decision to increase the prices of the Toyota cars is the rising commodity prices.
According to the report, Toyota motors has plans to hike the prices of the vehicles by up to 3 percent. In the case of its largest selling MPV, the Innova Crysta, following the price hike, the Crysta is likely to get costlier by up to 66,000 rupees and on the other hand, in case of Toyota’s Luxury SUV – Fortuner, it is expected that following the price hike the SUV may get pricier by up to Rs. 93,000.
Will increase in price affect the sales of the Fortuner or Innova Crysta?
As per reports, both the Toyota Innova Crysta and Toyota Fortuner in the MPV and SUV category are in high-demand in the country. The sale stats show that the price hike will not lower sales of both the vehicles.
Currently, there is no direct competition for the Toyota Innova Crysta in the country whereas on the other hand Toyota’s luxury SUV Fortuner rivals several luxury SUVs in the segment, closest being the Ford Endeavour. The report also mentions that none of the SUVs are even close to Fortuner it in terms of sales. The report also claims that the company is expected to be selling more units than the Tata Hexa and the Mahindra XUV500 which is much lower priced than the Toyota Fortuner.
Prices of the Toyota Innova Crysta and Fortuner
With both the vehicles, Innova Crysta and Fortuner being offered with petrol as well as diesel engines, the consumers have more options to choose from. The company is also offering both the manual and the automatic gearboxes with the MPV and SUV.
While the Toyota Innova Crysta starts from Rs. 13.85 lakhs, Toyota’s luxury SUV – Fortuner start from Rs. 25.71 lakhs.