Toyota Klose has announced that it will increase the prices of all its models from April.
The company said in a statement on Saturday:
The prices of various raw materials, including steel, which is the source of vehicle production, have skyrocketed. This has had a severe impact on the company’s spending. To offset this impact, the price of all Toyota products will be increased by up to 4 percent from April 1. Toyota has said that the price of vehicles has been increased in a way that does not affect the customer.
The move by Toyota has led to a sharp rise in the price of cars, including the Patchouli and Innova Christa.
Earlier, BMW announced that it would raise the price of its products by 3.5 percent from next April. In addition, Audi and Mossidis-Benz are expected to increase vehicle prices from April 1.