Toyota Kirloskar Motor on Wednesday said it has increased prices of its products — Innova, Fortuner, Corolla and Etios — effective from September 12 across all its dealerships. According to the company, the decision was prompted by the raise in cess from 2-7 per cent across mid-size to large-size cars and SUVs (sports utility vehicles) as amended by the GST Council.
“Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike which may nearly reflect the prices in the pre-GST scenario,” said N. Raja, Director and Senior Vice President, Marketing and Sales, Toyota Kirloskar Motor.
The company has not revealed the final prices of the models, however, with the current prices and increase in cess by 5 percent, we are predicting an increase of upto 1 lakh INR in the top 4 models mentioned above. We will soon update you with the list of latest price of Toyota Innova, Fortuner, Corolla and Etios.
The company added that prices of “Hybrids” and small cars remains unaffected post the cess hike.