Owing to the reduction in CENVAT by 4%, Toyota has cut prices of all its cars, Earlier Toyota said it won’t cut the prices owing to rising input costs. The Corolla is now cheaper by Rs 34,100-Rs 40,750. The Innova becomes cheaper by Rs 23,980-Rs 32,780. The Camry becomes cheaper by Rs 70,430-Rs 76,130. While the Toyota Prado becomes cheaper by Rs 1,21,330
“As a responsible corporate citizen, we feel this will stimulate the market by making our cars more affordable to the Indian customer. We are also positive about the recently reduced repo rates by the government, which should reduce interest costs for banks,” said deputy managing director (marketing) Sandeep Singh.
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I guess it was bound to happen that even the cheapest cars would see a price cut!! Good if you have money but not so good if you’re losing your job in the bad economy!!
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