GST impact: Toyota Kirloskar Motor raises prices

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SME Times News Bureau | 14 Sep, 2017
Toyota Kirloskar Motor on Wednesday said it has increased prices of its products -- Innova, Fortuner, Corolla and Etios -- effective from September 12 across all its dealerships.

According to the company, the decision was prompted by the raise in cess from 2-7 per cent across mid-size to large-size cars and SUVs (sports utility vehicles) as amended by the GST Council.

"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," said N. Raja, Director and Senior Vice President, Marketing and Sales, Toyota Kirloskar Motor.

The company added that prices of "Hybrids" and small cars remains unaffected post the cess hike.