On Friday, Toyota Kirloskar Motor (TKM) raised the prices of its compact SUV Urban Cruiser and premium hatchback Glanza from May 1, 2022, to offset the increase in input costs. Presently, the Urban Cruiser is priced between Rs 8.88-11.58 lakh while the Glanza is tagged at Rs 6.39-9.96 lakh (ex-showroom Delhi), depending on the variants.

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“This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers,” a TKM said.

Also, the company remains committed to catering to the ever-evolving needs and requirements of customers by consciously minimizing the impact of rising costs on the consumer.

Increasing prices of commodities like steel, aluminum and other precious metals as well as higher costs of other raw materials have had an impact on automobile manufacturers. Car market leader Maruti Suzuki India announced a price hike across its entire model range this month amid the rise in input costs.

Last week, Tata Motors had hiked prices of its passenger vehicles by 1.1 per cent to partially offset rising input costs, while at the beginning of the month it increased prices of its commercial vehicles by 2-2.5 per cent.