Innova Crysta and Toyota Fortuner will Cost more in The New Year.

Toyota Kirloskar Motor has blamed rising input costs for a price increase that will take effect on January 1, 2022, across all of its car models sold in India, including the Fortuner SUV and Innova Crysta.

Toyota stated in a press release that the ‘price realignment’ was required due to a’sustained increase in input costs, including raw materials.’ The company also stated that it has made every effort to keep the cost increase’s impact on its customers as low as possible.

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Toyota is the latest automobile and two-wheeler manufacturer to announce a price increase for its models. Many brands have faced significant challenges as a result of rising input prices and a global shortage of semiconductor chips.

While several high-profile launches of new and facelift models have occurred in recent months, many of these products’ waiting lists have grown. According to reports, some variants of popular small and SUV vehicles, in particular, have a several-month waiting period.

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Innova Crysta and Toyota Fortuner will Cost more in The New Year.
Innova Crysta and Toyota Fortuner will Cost more in The New Year.

With the decrease in Covid-19 cases in the country, vehicle demand has increased. However, even in 2022, production cycles and supply issues have posed a threat that is unlikely to go away. The Federation of Automobile Dealers Associations (FADA) recently stated that the holiday season in November was the worst in over a decade, citing the chip crisis as a major factor affecting production and, as a result, dispatch to dealers. Passenger vehicle registrations totaled 3,24,542 units, down 26% from 4,39,564 units during the previous holiday season.

Read Also: Tata Motors Has Announced a Price Increase For Nexon and Punch Starting in January.

The Society of Indian Automobile Manufacturers (SIAM) has also raised awareness of current and future challenges. “”Manufacturers were counting on the holiday season to help them recover from a sharp drop in sales in the first half of the fiscal year 2021-22. However, the industry has been severely hampered by a shortage of semiconductors and a sharp increase in raw material costs.

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