Toyota Kirloskar Motor on Thursday announced that the company is planning to increase the prices of some grades of its select models from April 1, 2024. The company has said that this increase will be 1%. Toyota has cited rising input costs and operating expenses as the reason for the price hike. TKM sells a range of vehicles, from the hatchback Glanza to the premium SUV Fortuner, with prices ranging between Rs 6.86 lakh to Rs 51.44 lakh.
Kia India has also announced
A few days ago, Kia India has also announced an increase of up to 3 percent in the prices of all its cars from April 1, 2024. Before this, Maruti Suzuki has also increased the prices of all the models this year. The new prices are applicable from January 16, 2024. Maruti Suzuki India (MSI) sells many popular cars from Alto to Invicto. Their price ranges between Rs 3.54 lakh to Rs 28.42 lakh (ex-showroom).
Wholesale sales of passenger vehicles increased
Wholesale sales of passenger vehicles in India increased by 11 percent on an annual basis in February. According to industry body SIAM, auto companies shipped a total of 3,70,786 passenger vehicles to dealers last month, while the figure was 3,34,790 units in the same period a year ago. All automobile companies say that fluctuations in foreign exchange rates, The cost of car manufacturing has increased due to many factors like rising prices of raw materials and overall inflation. Because of this there is pressure to increase prices.
Tata Motors reported 19 per cent year-on-year growth in passenger vehicle (PV) sales in February, up from 12 per cent growth in January, while Toyota’s Indian unit posted record sales of 25,220 units for the second consecutive month. Entered.
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