Toyota increases prices up to Rs 1.6 lakh as GST cess undergoes a hike

As per the new rates, mid-sized cars like new Hyundai Verna, Honda City, and Maruti Suzuki Ciaz will see a price increase around 2 percent

By: | Updated: September 13, 2017 12:16 PM

With an increase in the cess from 2% - 7% on mid sized, large cars and SUVs Toyota is has announced an increase in the prices of Innova Crysta, Fortuner, Corolla and the Etios. The approximate price increase in Delhi for Innova Crysta is Rs 78,000, Rs 72,000 for Corolla Altis and the Platinum Etios will see an increase of Rs 13,000. The biggest price change though has been done for the Fortuner, which will now be dearer by up to Rs 1,60,000. However, prices of hybrid models (Camry Hybrid, Prius) have not been increased.

Speaking of the price increase, N. Raja, Director & Sr. Vice President, Marketing and Sales, Toyota Kirloskar Motor, 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.”

As per the new rates, mid-sized cars like new Hyundai Verna, Honda City, and Maruti Suzuki Ciaz will see a price increase around 2 percent. Luxury car prices will increase by 5 percent which includes vehicles from the likes of BMW, Mercedes-Benz, Audi, Volvo and Jaguar Land Rover. In addition, SUVs in the premium segment will witness a price increase of 7 percent. Rates on hybrid and small cars remains unchanged, which was approved earlier in July 2017. More vehicle makers such as Mahindra and Mahindra, Audi, Mercedes-Benz, and JLR will increase the prices of its products in coming days.