Launched in 2009 for Rs 18 lakh, the top-end Legender GR Sport variant costs over Rs 60 lakh (on-road) in some parts of India
The Toyota Fortuner has been the undisputed leader of the premium large SUV segment since it made its local debut 22 years ago. In over two decades of its existence, the T-Fort has received a generation change as well as facelifts. And, obviously, several price increments, too. Things have now come to a point where the top-spec Legender GR Sport variant of the SUV costs over Rs 60 lakh in many cities. Keeping all this in mind, a vlogger decided to make some simple mathematical calculations to try and figure out if this popular offering is on its way to receiving the Rs 1 crore price tag.
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Launched at Rs 18.45 lakh in 2009
Toyota Fortuner had a sticker price of Rs 18.45 lakh (ex-showroom) back when it made its way to India in August 2009. The SUV raked up over 7,000 bookings within a month of its launch. Merely 4 months down the line, the SUV got costlier by Rs 45,000, which meant the price tag increased to Rs 18.9 lakh* by January 2010. Over the months, there were several small price increments, and by April 2011, the price increased to Rs 19.94 lakh*. There was another price increment of Rs 50,000 in December 2011, thereby taking the price to Rs 20.45 lakh*. Interestingly, this price rise came into effect merely a month before the arrival of the facelift. However, the facelift was launched at a lower price of Rs 19.99 lakh* in January 2012. In March, prices rose by Rs 80,000 due to a hike in import duty. In March 2014, the Fortuner received a petrol variant, which went on sale for Rs 20.83 lakh*.
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But by 2015, the price range of the Toyota Fortuner reached a bracket of Rs 24.17 lakh* to 26 lakh*. This is a lot more than the Rs 18.5 lakh* starting price of this SUV back when it came in 2009. The current-gen model came in 2016 in a price range of Rs 25.92 lakh* to Rs 31.12 lakh*. With this, the fully loaded variant of the SUV became Rs 5 lakh costlier than before. The SUV got a price hike of Rs 90,000 in March 2017. With the implementation of GST in September 2017, the T-Fort started costing up to Rs 1.6 lakh more. In May 2018, the SUV received another price increment of Rs 49,000. The prices keep increasing marginally over the next few years. The BS6 model that was launched 2 years ago was only Rs 50,000 costlier though. With this, the Fortuner started costing Rs 28.66 lakh to Rs 34.43 lakh. The facelift arrived in 2021 in a price range of Rs 29.99 lakh* to Rs 37.40 lakh*. With this, the top-spec Fortuner started costing up to Rs 3.5 lakh more than before.
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Toyota Fortuner to cost Rs 1 crore by 2045?
In April 2021, the Toyota Fortuner received another price increment ranging from Rs 36,000 to Rs 72,000. Then, in October 2021, the SUV received another price hike of up to Rs 39,000. The Legender 4×4 arrived in October 2021 and pushed the pricing envelope to Rs 42.33 lakh*. The SUV received a price hike of Rs 1.1 lakh in January 2022, and Rs 1.2 lakh in April 2022. The GR Sport top-spec model arrived here in May 2022 at Rs 48.4 lakh*. The SUV received another price hike of Rs 1.14 lakh in July 2022. With this, the price range of the Fortuner reaches Rs 32.4 lakh* to Rs 49.5 lakh*. All this shows that the base model of the SUV has received a compounded increment of 5% in the last 12 years. Using similar calculations, the compounded price increase of the fully loaded model is 12-13% over the same period. Hence, if the prices continue to increase at this rate, the Toyota Fortuner will start costing up to Rs 1 Crore by 2045, which will mae it costlier than many premium offerings that cost more in this day and age.
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*all prices are ex-showroom