Toyota Fortuner’s price is likely to be reduced by Rs. 2.10 lakh; Innova Crysta to become cheaper by Rs. 90,000
As Goods and Services tax has been rolled out across the country from midnight of 1st July, auto manufacturers are revising the price of their products. With GST making way for the luxury cars and big SUVs to become cheaper, Toyota is ready to reduce pricing of two of its popular large cars – the Fortuner SUV and the Innova Crysta MPV.
The Japanese automaker is expected to slash the pricing of its popular SUV Fortuner by Rs. 2.10 lakh, while the MPV segment leader Toyota Innova Crysta is likely to receive a price reduction of Rs. 90,000. This price slash is expected to make these cars more attractive to the customers, considering the growing demands for larger and premium cars.
Also read: 2016 Toyota Innova Crysta First Drive Review
During the pre-GST period, Toyota Fortuner SUV was priced between 26.60 lakh and 31.90 lakh (ex-showroom). Now, under the new tax structure, this SUV could be priced between 24.50 lakh and Rs. 29.80 lakh (ex-showroom). On the other hand, the Toyota Innova Crysta is expected to come priced between 13.30 lakh and Rs. 20.50 lakh compared to its pre-GST pricing of 14.20 lakh and 21.40 lakh (ex-showroom).
According to the new tax system, the products and services are categorized in five different slabs that are 5%, 12%, 18% and 28%. This is the biggest tax reform the country has experienced since independence and it abolished multiple state and central taxes and replaced them with an universal tax package divided into two components, state and central.
Also read: New Toyota Fortuner Petrol Review
Not only the Toyota, are other automakers present in the Indian market also gearing up to pass on the benefit of the GST to the customers. Hyundai is expected slash the pricing of its popular compact SUV Creta by around Rs. 40,000 – Rs. 60,000. Maruti Suzuki has already reduced pricing of its cars by up to 3% to deliver the benefit of GST to the customers.
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