Toyota has reduced the prices of its locally manufactured Corolla Cross hybrid variants by up to Rs570,000 following the government’s decision to lower the sales tax on hybrid electric vehicles (HEVs) with engine capacities of up to 2,000cc.
Under the revised prices, the Corolla Cross HEV X now costs Rs9.729 million, down by Rs570,000 from Rs10.299 million. The price of the Corolla Cross HEV has been reduced by Rs550,000 to Rs9.299 million from Rs9.849 million.
The new prices are applicable on an ex-factory Karachi basis and took effect from Sept 13, according to Toyota’s notification.
The price reductions follow the government’s decision to cut the sales tax on locally manufactured HEVs in the relevant engine category from 25 per cent to 18pc.
Toyota had increased the prices of both Corolla Cross hybrid variants in July after the sales tax was raised from 8.5pc to 25pc from July 1.
The Corolla Cross HEV X had subsequently risen from Rs8.935 million to Rs10.299 million, while the Corolla Cross HEV increased from Rs8.535 million to Rs9.849 million.
Following the latest tax reduction, several automakers have revised their prices, with Toyota now passing on the lower tax rate through price cuts for its Corolla Cross hybrid models.
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