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Toyota Kirloskar Motors has announced that prices of its popular models like Innova, Fortuner, Corolla Altis will be hiked by at least 1.5-2 percent. New prices will be effective from January 01, 2010.

“So far, we have absorbed the increase in total costs – owing to the unfavourable exchange rate and increasing input costs – however, now we are compelled to pass on, a part of it, to the customer. We will continue to provide value for money and quality products to our customers, in line with our philosophy of “Customer First,”' said Sandeep Singh, deputy managing director, Marketing, TKM.

Apart from price hike, Toyota also plans to unveil its new concept model of its compact car for the Indian market. Toyota intends to unveil both the hatchback and sedan model of its concept car at the upcoming Delhi Auto Expo in January. "It's a concept vehicle coming from Japan. Production will start by December of 2010. First year production plan is 70,000," said Singh. It will also be showcasing the new hybrid model Prius which will not be a volume product. TKM has not revealed technical or price details of India bound Prius hybrid model.

source: cartradeindia

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