Japan based car maker Toyota on August 16, 2012 said that it will increase the prices of its entire range of cars in India by 1.5 percent with effect from September 1, 2012. The prices will be hiked partly due to the rupee depreciation against dollar.

This will be the second price hike announced by the company since June 2012. Earlier the company had raised the prices by 1 percent due to the impact of the rupee fall. Sandeep Singh, the Deputy Managing director at Toyota said that the rupee depreciation has badly affected their margins and are trying to hold this as far as possible. Singh added that they are not satisfied with the quantum hike but it will be around 1 percent.