Toyota has announced a price increase for most of its model range after the GST Council hiked the cess for mid-size cars, luxury cars and SUVs.
The models that will see a price hike are the Innova Crysta MPV, the Fortuner SUV and the Corolla and Etios sedans. The Innova Crysta will now be dearer by Rs. 78,000, the Fortuner gets more expensive by Rs. 1,60,000, the Corolla Altis price goes up by Rs. 72,000 while the Etios becomes more expensive by Rs. 13,000. The prices of the Hybrid models and the hatchback models remain unchanged.
The the additional cess on mid-size cars has been raised by 2 percent, on luxury cars by 5 percent and on SUVs by 7. Under the previous rate, large vehicles and SUVs attracted a cess of 15 percent over the flat rate of 28 percent.
Due the hike, car sales will surely be affected during the upcoming festive season, a time when generally sales see a big spike.