Toyota Kirloskar Motor to hike price of Camry Hybrid & Vellfire models

Toyota Kirloskar Motor (TKM) on Friday announced it would increase the price of Camry Hybrid Electric Vehicle and The Vellfire with effect from next month. It has been necessitated due to the "substantial rise" in exchange rate, the company said in a statement.

"As of now, the extent of the price hike has not been decided," a TKM official said. Camry Hybrid is touted as one of Toyota's flagship models amongst self-charging electric vehicles.

"The Vellfire, latest launch by TKM in India, also stands out for its ultra-luxurious, powerful and eco-advanced performance backed by low fuel consumption and carbon footprints," the statement said. Since their launch, both the models have received overwhelming response and have seen a steady demand in the Indian market, TKM said.