GST was rolled out on July 1 by the Prime Minister and President of India. It has benefited the customers by lowering the prices of automobile sector. Maruti Suzuki was the first company to release its reduced prices after GST. After Maruti Suzuki’s list, Toyota is not too far behind in offering price cuts.
The Innova Crysta will get the price cut of up to ₹98,500. While the mid-size SUV Fortuner is now cheaper by up to ₹2.17 lakh. This effect is noticed as SUVs above 4 meters have been benefited due to the reduction in taxes by 12%. Also, the Platinum Etios is now cheaper by up to ₹24,500 and Etios Liva up to ₹10,500.
But like other hybrid vehicles, Toyota’s hybrid vehicles have also encountered the price hike. The Toyota Camry and Toyota Prius have become costly by ₹3.5 lakh in Bengaluru and up to ₹5.24 lakhs in Delhi due to the variable tax for states under GST.
N Raja, Director and Senior 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”. He also added that “With the GST rates our best quality products will become more affordable for buyers”.