Toyota to continue selling hybrid cars despite high GST
Jul 12, 2017, 11:35 IST
Toyota's Indian unit has announced that it would not stop selling hybrid vehicles locally, even as the implementation of goods and services tax (GST) has increased the taxes on this category.
"We continue to be positive on hybrids irrespective of the price challenge. There is no change in our plan. We will continuously engage with the government and explain to them. We are hopeful that the government would reconsider it positively," N Raja, director, at Toyota Kirloskar Motor, told ET.
Earlier, the company had indicated that it might re-evaluate its strategy after the proposed tax of 43% on hybrid vehicles, including 28% GST and 15% cess.
"We sold 1,300 units of the Camry in 2016. As much as 95% of them were hybrids. We will continue to sell the Camry hybrid as we feel the customer profile in the segment will not be affected with an increase of Rs 3 lakh. Most of them are CEOs, CFOs and businessmen. Moreover, they all want to try out a new technology and are conscious environmentally," Raja added.
(Image source India Auto Bog)
Advertisement
"We continue to be positive on hybrids irrespective of the price challenge. There is no change in our plan. We will continuously engage with the government and explain to them. We are hopeful that the government would reconsider it positively," N Raja, director, at Toyota Kirloskar Motor, told ET.
Earlier, the company had indicated that it might re-evaluate its strategy after the proposed tax of 43% on hybrid vehicles, including 28% GST and 15% cess.
"We sold 1,300 units of the Camry in 2016. As much as 95% of them were hybrids. We will continue to sell the Camry hybrid as we feel the customer profile in the segment will not be affected with an increase of Rs 3 lakh. Most of them are CEOs, CFOs and businessmen. Moreover, they all want to try out a new technology and are conscious environmentally," Raja added.
(Image source India Auto Bog)