Japanese automaker Toyota and German luxury carmaker Mercedes-Benz are considering price hike in India in the wake of the weakening rupee.
The value of rupee, hovering over 72 against the US dollar, has sparked concerns among auto companies.
"Currently, we are absorbing the high costs. However, if it is difficult to absorb in the coming days due to further depreciation, we will have to pass on a part of this cost to the customers by increasing the price," Toyota Kirloskar Motor (TKM) Deputy Managing Director N Raja told PTI.
TKM is a joint venture between the Japanese auto major and Kirloskar group.
Raja said the company is still dependent on imports for certain specific components although it has over the years substantially increased local content in its products.
TKM sells a range of products in the country, from locally-manufactured hatchback Etios Liva to imported premium SUV Land Cruiser.
When asked if the company would also look at enhancing exports as one of the measures to balance increase in import costs, Raja said: "We cannot specifically comment on our future export plans."
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