Toyota Kirloskar Motor on August 1 announced that it would increase the price of Innova Crysta by 2%. The premium MPV is currently available in the market at Rs 16.11 lakh (ex-showroom).
While the petrol variants range between Rs 16.11 lakh and Rs 22.74 lakh, the diesel variants retail from Rs 16.90 lakh to Rs 24.59 lakh. It is expected that the Innova Crysta could witness a price hike up to Rs 50,000.
The automaker said that the price is being hiked to offset the substantial increase in input costs partially. However, it also claimed that the increment had been diminished considering the impact on the customers.
“We, at Toyota Motor, would like to announce that the company will realign the price of its flagship product Toyota Innova Crysta by up to 2% effective from August 1 2021,” Toyota India said in a statement. “This increase is necessitated to partially offset the substantial increase in input costs. The price increase has been tapered down considering the impact on our valued customers.”
“As a customer-centric company, we remain committed to cater to the ever-evolving needs and requirements of our customers by consciously minimising the impact of rising costs on consumers,” it added.
This announcement, however, indicated a hazy picture if the company is planning to increase the prices of the other models as well as in the future.
The automaker increased the price of Toyota Innova Crysta up to Rs 29,000 in April 2021.
With this, Toyota joins carmakers such as Tata Motors and Maruti Suzuki, which have recently increased prices. The prices of Swift by Maruti and its CNG model have risen to Rs 15,000. Tata Motors, in the meantime, increased the prices of several models but did not disclose the quantum of the hike at that moment. Both carmakers decided to increase the prices considering the cost of raw materials, which drove up costs, and customers partially had to bear it.
