In alignment with GST Council, Toyota Kirloskar Motor has hiked the prices of mid-sized, large-size cars and SUVs up to INR 1.6 lakh in accordance of increased cess between 2 to 7%. Following the same, the prices of Innova Crysta, MPV, Etios Platinum, Corolla Altis, and SUV Fortuner have leveled up, and small cars like Camry and Etios Liva are ostracized from the list.
With the cess revision, the Japanese manufacturer Toyota gets the burden of price rise which it load off with its customer and escalated the price in above mentioned segment between INR 13,000 and INR 1.6 lakh. Favoring the hike, TKM Director, N. Raja said,“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,”
The Refurbished Price List For TKM Cars:
|Name Of The Car||Before Cess Price||Applied Rate||After Cess Price||Price Variation||Consumer Benefits Post GST|
|Toyota Etios||INR 6.66-8.60 lakh||Approx. 2%||INR 6.79-8.73 lakh||INR 13,000||INR 10,000-20,000|
|Toyota Innova crysta||INR 13.30-20.78 lakh||Approx 6%||INR 14.08-21.56 lakh||INR 78,000||INR 11,000-59,000|
|Toyota Corolla Altis||INR 14.88-18.67 lakh||Approx 4.8%||INR 15.60-19.39 lakh||INR 72,000||INR 26,000-52,000|
|Toyota Fortuner||INR 24.41-29.18 lakh||Approx 6.6%||INR 26.01-30.78 lakh||INR 1.6 lakh||INR 65,000-1.08 lakh|
Consumer Benefits Reside Post GST
In spite of price rise, a customer will be end up with a gain after GST implementation. If we compare the data before and after GST implementation, we come up with the positive repercussions of GST on Toyota cars prices.
For example Post GST, the price of Etios has come down by INR 23,000 on base price and after cess implementation and cutting INR 13,000 as additional cess, the customers will still be leaving with INR 10,000 as savings on Etios.