Toyota Kirloskar Motor (TKM) has announced that the company will bring about a price hike of up to 1.5 per cent across its entire range of cars in India with effective from September 1, 2012. The car price hike will be put into effect in order to partly offset company losses due to the rupee depreciation. Also Read - Highlights India vs New Zealand 3rd T20I Match : IND Win By 73 Runs, NZ Whitewashed 3-0

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This is the second hike since June by Toyota's Indian subsidiary, Toyota Kirloskar Motor (TKM). It had raised the prices then by up to 1 per cent due to impact of rupee fall. Also Read - Highlights IND vs NZ 1st T20I Match: Suryakumar Yadav's Fifty & Rishabh Pant's Gutsy Knock Guide India Home

Toyota to hike car prices by up to 1.5 per cent from September 1, 2012

“The rupee depreciation has hit us very badly and it is affecting our margins. We are trying to hold this as far as possible. We are forced to pass on the burden partially to our customers,” (TKM) Deputy Managing Director (Marketing) Sandeep Singh told PTI.

 

“Although we have not finalised the quantum of the hike, it will be around 1.5 per cent,” he added.