Toyota has increased the prices of the Innova Crysta MPV, the Fortuner SUV and the Corolla and Etios sedans by up to 7 per cent.
Toyota, the Japanese carmaker has increased the prices of majority of the models in its line-up. The prices have been raised due to the GST Council’s new decision to increase the cess on mid-sized, large cars and SUVs. The company has increased the prices of the Innova Crysta MPV, the Fortuner SUV and the Corolla and Etios sedans by up to 7 per cent.
While the Innova Crysta prices have been increased by up to Rs 78,000, the popular Fortuner price has been raised by up to Rs 1.6 lakh. The company’s premium sedan – Crolla Altis – price have been hiked by up to Rs 72,000, while the Platinum Etios gets expensive by up to Rs 13,000. The prices of the Etios Liva and Camry hybrid will remain the same. Also Read – Upcoming Toyota Cars In India
Under the new GST tax regime, the mid-sized vehicles will attract extra 2 per cent cess. The additional on large vehicles has been raised by 5 per cent to 20 per cent and on SUVs by 7 per cent to 22 per cent. As per new GST code, the total tax on mid-sized cars, large vehicles and SUVs are now stands at 45%, 48% and 50% respectively. However, Government hasn’t increased the cess on the small cars and hybrids. Also Read – Upcoming New Toyota Cars At The Delhi Auto Expo 2018
Not just Toyota, most of the carmakers are likely to soon increase the prices of their cars. The increase in cess could impact the sales of premium and luxury carmakers including Toyota, Mahindra, Skoda, VW, Mercedes-Benz, Audi and BMW.