"We will raise the prices most probably from Oct 1 by 1. 5 to 2%. It is mainly because of rising component costs and appreciation in the yen, " TKM Deputy Managing Director (Marketing) Sandeep Singh told reporters about the sidelines of a summit organised by the Society of Indian native Automobile Manufacturers (SIAM) here today.
The company will raise the costs of all its vehicles manufactured in India, he added.
Toyota Kirloskar Motor has increased the prices of its vehicles twice this year, within April and July, by a total 3%.
TKM produces the actual Etios and Corolla Altis sedans, Liva and hatchback, Fortuner VEHICLE and Innova MUV in India.
The Japanese car-maker had on Tuesday said it'll hire about 1, 500 people for its Indian operations by next year as it is gradually expanding its production capacity in the united kingdom.
The company, which is present in India through a partnership with the Kirloskar Group, is investing Rs 1, 650 crore in order to ramp up its production capacity by one lakh units as well as increase localisation of components by 2014.