Toyota Kirloksar Motor, the Indian unit of Toyota Motor Corp (7203.T), said on Tuesday it would raise prices of its key models by 1.5 to 2 percent, effective Jan 1, 2010.

The price increase was due to higher input costs and unfavourable exchange rate, which the company was unable to absorb any further, it said.

The price of its utility vehicle Innova, sedan Corolla Altis and pick-up Fortuner will be raised, it said.

The yen has appreciated 8.7 percent against the rupee between the end of June and November, Reuters data showed. (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)

Toyota