Toyota Kirloskar Motor has revised the prices of its products post the roll out of the Goods and Service Tax (GST) in India. The reduction of upto 13% in the prices is a result of the GST implementation and the company would be passing on the benefits to customers on an immediate basis.
Mr. N. Raja, Director ans Sr. Vice President, Marketing and Sales, Toyota Kirloskar Motor said, “We are happy to pass on the benefits of GST rates on vehicles to our customers. Customer First philosophy has always been our cornerstone, thus we are delighted that with the GST rates our best quality products will become more affordable for buyers.”
The approximate price decrease in Bangalore for the Toyota Innova Crysta will be upto INR 98,500 whie the all new Toyota Fortuner will be cheaper by upto INR 2,17,000. The prices of the all new Toyota Corolla Altis will also dip upto INR 92,500. The Toyota Platinum Etios will see a reduction of upto INR 24,500 while its hatchback sibling Etios Liva will be cheaper by upto INR 10,500.
On the other hand, the company will have to hike the prices of hybrid variants of the Toyota Camry and Toyota Prius by over INR 3.5 lakhs in Bangalore and going upto INR 5.24 lakhs in Delhi as per applicable tax under GST framework. This is because the Governtment of India has increased the taxation on hybrid vehicles.
The price change will vary from state to state, model to model and variant by variant depending on tax rates applicable prior to GST.
The Toyota Innova, Fortuner and the Corolla Altis have been leaders in their respective segments since their launch and have been highly appreciated by customers in India. Customers have time and again reinforced their trust on Toyota products backed by QDR (Quality Durability Reliability) philosophy. Almost all Toyota models have received overwhelming response owing to the attributes of low cost of ownership, unmatched safety features, best resale value and quality services offered by the dealers.
Toyota India is hopeful that the price decrease post GST will further boost the customer demands in the coming months. The GST will be fruitful for the growth of the Indian auto industry. The company expects that the industry will break into double digit growth territory this year.
