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The Government of India is set to implement the new Goods and Service Tax (GST) from July 1, 2017. The new tax regime has an adverse impact on the hybrid vehicles.
Japanese automaker Toyota has two hybrid models in the Indian market, the Camry and the Prius. As per the GST norms, the cess levied on the hybrid cars will be increased from 12 percent to 43 percent.
Apart from that, the FAME subsidy scheme on hybrid cars has been withdrawn, which leads to a bump in prices of the hybrid cars. In the case of Camry Hybrid, the price will increase anywhere around Rs 8 lakh to Rs 10 lakh. Currently, the Camry Hybrid is priced at Rs 31.98 lakh ex-showroom (Delhi).
The Toyota Camry Hybrid is powered by a 2.5-litre petrol engine combined with an electric motor that churns out 202bhp, and power is sent to the front wheels via a CVT gearbox.
The new Camry Hybrid can run in pure electric mode only at low speeds. The car switches to a combination of electric and engine power if the throttle is depressed for more power. The battery is recharged through brake regeneration, and the company claims a mileage of 19.16km/l. The Camry Hybrid can sprint from 0 to 100km/h in 9.2 seconds.
The new GST taxation policy has an adverse impact on the eco-friendly cars. On the other hand, the expensive luxury cars will get cheaper. The Indian government is encouraging the use of hybrid and electric cars, but buying one will burn a hole in your pocket.