Toyota Kirloskar Motor to hike prices across entire portfolio from January

Toyota Kirloskar Motor (TKM) on Wednesday said it will increase prices across its entire product portfolio from January, in order to offset the impact of rise in input costs.

The company sells a range of models including Glanza, Urban Cruiser, Innova Crysta and Fortuner in the domestic market.

"The price realignment is necessitated on the back of sustained increase in input costs including raw materials. All efforts have been made to ensure that the impact of the cost increase has a minimum effect on our esteemed customers," TKM said in a statement.

Already, various companies including Maruti Suzuki, Tata Motors and Honda Cars have indicated that they would be increasing prices from next month.

Cost of various essential commodities like steel, copper, aluminium and precious metals have gone up over the last one year.