Toyota Kirloskar Motor has decided to increase the prices of its vehicles by up to 3 per cent from January 01, 2017. The increase in manufacturing costs and an upward movement of foreign exchange have prompted the company to make the decision.
Over the past six months, the rise in prices of the raw materials like steel, aluminium, copper and rubber has put a lot of pressure on the car manufacturers. Even the appreciation of yen in the global market has increased the import cost of parts from Japan.
“Owing to continued pressure of...
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Updated Date: Dec 05, 2016 14:04:51 IST