GST rollout: Toyota Fortuner set to become cheaper by Rs. 2.1 lakh

Ahead of the Goods and Services Tax (GST) coming into effect on July 1, buyers have reasons to cheer as cars and SUVs sold in India will become cheaper. Many carmakers in India have already passed on the benefits of the new tax regime to customers, and the rest are expected to follow suit.

Automakers in India are expected to make a formal announcement on price revisions by Monday, July 3. According to a report in the Economic Times, the price of the new Fortuner SUV will go down by up to Rs 2.1 lakh. Toyota is yet to make an announcement on the price revision but the company has confirmed that it will pass on the benefits of GST to its customers. The Fortuner, which is currently priced in the range of Rs 26.6 lakh to Rs 31.9 lakh, will do down to Rs 24.5 lakh to Rs 29.8 lakh. Toyota's popular MPV Innova Crysta is likely to see a price cut of about Rs 90,000.

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"We will be passing on the price benefit to the market. However, on the Camry hybrid, the price will go up," N Raja, sales & marketing director at Toyota India told the publication.

In the month of June 2017, Toyota Kirloskar Motor sold a total of 1,973 units in the domestic market and exported 1,655 units of the Etios series in June 2017 clocking a total of 3,628.

Toyota announcing the monthly sales said, "We are optimistic that the GST implementation will be fruitful for the growth of the Indian auto industry. With the change in prices, we hope to see positive sentiments among consumers in the month of July. We think the industry will break into double-digit territory this year."

Also Read: GST effect on cars, bikes, scooters & SUVs: What will come cheaper and what will cost more?

Source: Economic Times