Toyota Kirloskar March sales jump 90%; hikes price

Carmaker Toyota Kirloskar Motors (TKM) today reported 90.01 per cent jump in sales at 6,905 units during March, against 3,634 units in the same month last year.

The company also raised the prices of its vehicles by up to Rs 23,000 on account of rising input costs and modification of engines to conform to emission norms, coming into effect from today.

TKM, a joint venture between the world's largest carmaker Toyota and the Kirloskar Group, posted 36 per cent rise in sales for the entire fiscal 20109-100 at 63,837 units, Toyota Kirloskar Motor (TKM) said in a statement.

"Apart from customer confidence in our products, the increase in sales for the month of March can also be attributed to the hike in prices that have come into effect from April 1, 2010, because of increase in input costs, the implementation of BS-IV and the increase in local road tax and local sales tax," TKM Deputy Managing Director (Marketing) Sandeep Singh said.

The company hiked prices of its utility vehicle 'Innova' between Rs 20,000 and Rs 23,000, while its premium sedan 'Corolla Altis' will be costlier by Rs 5,000-14,000.

The latest offering from TKM's stable — the sports utility vehicle Fortuner — will be dearer by Rs 10,000.