The Toyota Indus Motor Company (IMC) has elevated the prices of its CBU vehicles as Kia Motors recently did. It has issued a statement explaining that it had to pass the price hike to consumers after the recent increase in Regulatory Duty (RD) on imported CBU automobiles.
This has led the prices of its vehicles to increase up to Rs. 2.28 million (for the Prius).
This is the second price hike by Toyota IMC after it raised the pricing of all the CBUs in January, claiming the same reason — increased RD and Federal Excise Duty (FED).
The models affected by the latest price hike include Prius, Corolla Cross, and Rush, and each vehicle has received a massive price of above Rs. 1.1 million.
Corolla Cross
Toyota has revised the prices of all the Corolla Cross variants, including the 1.8L which was previously going for Rs. 9,249,000. It will now be sold for Rs. 11,179,000 after a hike of Rs. 1,930,000.
The Smart 1.8L variant’s price has gone up by Rs. 2,090,000 and will now cost Rs. 11,959,000 as compared to its old price of Rs. 9,869,000.
The fully loaded 1.8L variant, the Corolla Cross Premium, now costs Rs. 12,249,000 (up from Rs. 10,109,000) after a surge of Rs. 2,140,000.
Rush
Rush is offered in two options. The price of the first variant, the GMT 1.5L, has been raised by Rs. 1,110,000 and it will now cost Rs. 7,329,000. Its previous price was Rs. 6,219,000.
The other 1.5L variant will be sold at Rs. 7,619,000 as it received a hike of Rs. 1,160,000 from its previous price of Rs. 6,459,000.
Prius
Toyota offers just one variant of Prius that cost Rs. 11,109,000 originally. After getting a major hike of Rs. 2,280,000, it will now be sold for Rs. 13,389,000.
Toyota mentioned that the new prices will be applicable on all new orders from 4 March onward. Meanwhile, the current prices will be applicable on all the full payments/GTG orders available in the system by 4 March.
Via Pakwheels
Toyota, Suzuki and Honda always took the same practices if govt applied such taxes and duties they always earned profits in behind of such taxes.