Toyota prices set to rise

BANGKOK: The recent devaluation of the baht has forced Toyota to lift prices of its cars in Thailand.

The company is planning a price hike of 3 percent for completely knocked-down cars and 6 percent for completely built- up cars.

The price rises will come into effect from next month.

The fluctuating economic situation in Thailand has also forced Toyota to lower is sales target this year from 190,000 cars to 150,000 cars.

The total market in Thailand is expected to be down 20 percent to about 450,000 cars, and Toyota is cutting its monthly production to 7,000 cars from 12,000.