Toyota Kirloskar Motors, the Indian arm of Toyota Motor Corp, has announced a price revision across its portfolio. This price revision is a result of the recently implemented GST taxation reforms, which have reduced applicable taxes on most all car segments, excluding electric and hybrid vehicles. We have already explained the effects of GST on car prices in India.
The overall price drop made on different Toyota cars in India due to GST will vary from city to city. This variation is a result of the different tax rates that were applicable previously. As a result, it is difficult to enlist prices of every Toyota car after GST. However, Toyota has released a list of price cuts or hikes that have been made across its portfolio. All these prices changes are ex-showroom, Bangalore.
As per the released list, the company’s most popular model and best seller in the country – the Toyota Innova Crysta, has received a price cut of up to Rs. 98,500. Meanwhile, the Toyota Fortuner has become cheaper by up to Rs. 2.17 lakh. Meanwhile, price drop for the Corolla Altis sedan is Rs. 92,500, for the Etios sedan is Rs. 24,500 and for the Etios Liva hatchback is Rs. 10,500. It must be noted that these price cuts just indicate the maximum drop across the variant line-up and will vary from location to location.
It is also worth noticing that the GST taxation laws have, rather strangely, increased applicable tax rates on hybrid and pure electric cars. As a result, both Toyota Hybrid cars sold in India have received a hike in their prices after GST implementation. The Camry Hybrid, as well as the Prius, is now costlier by Rs. 3.5 lakh in Bangalore. In the Delhi-NCR region, this hike will be over Rs. 5 lakh, as hybrids were previously given tax exclusions that have now been removed.