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GST Effect: Toyota Prius Hybrid Price Set To Increase
The Toyota Prius Hybrid price is set to increase with the implementation of GST from July 1, 2017.
The new Good and Service Tax (GST) taxation policy will be implemented from July 1, 2017. And it has a significant impact on the automobile industry. Japanese automaker Toyota retails its Prius Hybrid in the Indian market.
As per the GST rule, the hybrid cars have faced a major setback due to the increase in tax rates. Currently, the hybrid vehicles have levied a tax of 12 percent, but it is set to increase to 43 percent.
Apart from that, the government has also withdrawn the FAME scheme offered on the hybrid vehicles. Toyota has priced the Prius at Rs 38.96 lakh ex-showroom (Delhi). But post-GST, the price will bump up by Rs 8 lakh to Rs 10 lakh.
The Toyota Prius Hybrid draws power from a 1.8-litre petrol engine and an electric motor. The combined output stands at 97bhp and 142Nm of torque. The engine is mated to a CVT gearbox.
The Prius can be driven solely on electric power at low speeds. The car automatically switches to the combined power of the engine and electric motor when more power is required. Toyota claims that the Prius will return a mileage of 26.27km/l.
DriveSpark Thinks!
With the implementation of the Goods and Service Tax (GST), the eco-friendly vehicles (electric and hybrid) will become pricier. The move doesn't make sense when the Government is encouraging the use of electric and hybrid vehicles in the country.