Toyota Innova Hycross Hybrid cheaper by Rs 5.5 lakh
Gadkari’s proposal may make Toyota Innova Hycross Hybrid cheaper by Rs 5.5 lakh
Introduction:
Union Minister for Road Transport and Highways Nitin Gadkari is famous for his innovative proposals which often make headlines. Toyota Innova Hycross Hybrid cheaper by Rs 5.5 lakh at News18’s Rising India Summit 2024, he presented a game-changing idea aimed at facilitating the purchase of hybrid cars. Gadkari suggested a substantial reduction in taxes on hybrid vehicles, proposing to reduce the current 48 percent GST to just 12 percent.
The proposal has attracted widespread attention, especially among potential buyers eyeing hybrid vehicles like the Toyota Innova HyCross. If implemented, the lower tax rate could have a significant impact on the price of hybrid cars, making them more accessible to the public. The move is in line with the government’s larger agenda of promoting sustainable and eco-friendly transportation options across the country.
Hybrid vehicles, renowned for their eco-friendliness and fuel efficiency, have long been touted as a more sustainable alternative to traditional petrol or diesel-powered vehicles. However, their relatively high upfront costs have discouraged many potential buyers. Gadkari’s proposal seeks to address this issue by making hybrid cars more affordable and attractive to a wider audience.
Toyota Innova HyCross, a popular choice among hybrid car lovers, will benefit greatly from this proposed tax cut. With its advanced hybrid technology and spacious interior, the Innova HyCross offers a perfect blend of performance, comfort and eco-friendliness. The reduction in taxes could make this innovative vehicle even more attractive to potential buyers.
Furthermore, the move to reduce taxes on hybrid vehicles reflects the government’s commitment to promote sustainable mobility solutions and reduce carbon emissions. By encouraging the adoption of hybrid cars, policymakers hope to accelerate the transition toward cleaner and greener transportation options, thereby contributing to environmental protection efforts.
Overall, Nitin Gadkari’s proposal to reduce taxes on hybrid vehicles is a step in the right direction towards achieving a more sustainable and eco-conscious automotive landscape in India. If implemented, it could pave the way for the adoption of hybrid cars and contribute to the country’s efforts towards a green future.
Hybrid cars may soon become more affordable:
Toyota Innova Hycross, introduced some time ago, has attracted a lot of attention from buyers, following the footsteps of its predecessors Innova and Innova Crysta. Toyota offers a strong hybrid variant of this MPV, whose ex-showroom price ranges from Rs 25.72 lakh to Rs 30.698 lakh.
Toyota Innova HyCross, introduced some time ago, has attracted a lot of attention from buyers, following the footsteps of its predecessors Innova and Innova Crysta. Toyota offers a powerful hybrid variant of this MPV, whose ex-showroom price ranges from Rs 25.72 lakh to Rs 30.698 lakh.
The introduction of hybrid technology in the Innova Hycross presents an attractive proposition for buyers looking for a combination of fuel efficiency and performance. With its strong hybrid powertrain, this model offers an optimal balance between power and eco-friendliness, making it an attractive choice for eco-conscious consumers.
In terms of design and features, the Innova HyCross retains the signature styling cues of the Innova lineup while incorporating modern elements to enhance its appeal. Inside the cabin, passengers are offered a spacious and comfortable environment with ample legroom and premium features to ensure a pleasant driving experience.
From a performance perspective, the Innova Hycross impresses with its smooth and refined driving dynamics thanks to the advanced hybrid drivetrain. Be it commuting on city roads or going on long journeys, this MPV offers a smooth and enjoyable ride to the passengers.
Additionally, Toyota’s reputation for reliability and durability adds to the appeal of the Innova HyCross, giving buyers peace of mind and confidence in their investment. With its competitive pricing and impressive feature set, the Innova Hycross stands out as an attractive option in the hybrid MPV segment.
Overall, the Toyota Innova Hycross represents a significant step forward in the evolution of hybrid vehicles, offering a blend of performance, efficiency and versatility that meets the diverse needs of modern consumers. As Toyota continues to innovate and refine its hybrid offerings, the Innova Hycross continues to be an exceptional choice for those seeking a premium and eco-friendly driving experience.
In the current scenario, the ex-showroom price of the Innova HyCross Hybrid includes 28 percent GST (both state and central) and 15 percent CESS. Excluding these, the ex-factory cost is only Rs 21.5 lakh. With Mr. Gadkari’s proposal to reduce GST on hybrid cars to 12 per cent, the ex-showroom cost will be around Rs 25.5 lakh, including 15 per cent CESS and 12 per cent GST.
This tax cut will have a significant impact on the price of the vehicle, with the ex-showroom price being around Rs 5.5 lakh less than the current price. As a result, there will be a corresponding decline in the on-road price of the vehicle. Depending on your location, the difference in on-road price could be up to Rs 7-10 lakh.
With such a huge price cut, the Toyota Innova HyCross Hybrid becomes a more attractive option for potential buyers. It offers a compelling blend of eco-friendliness and cost-effectiveness, which appeals to a wide range of consumers. Additionally, the move is in line with the government’s effort towards promoting hybrid vehicles as part of environmental sustainability initiatives.
Compared to other vehicles in its segment, the Toyota Innova HyCross Hybrid now offers even more value for money. This makes it an attractive option for budget-conscious car buyers who are looking for a reliable and eco-friendly vehicle without compromising on performance or features.
Furthermore, this price cut could have a cascading effect on the automotive industry as a whole. This may encourage other manufacturers to invest more in hybrid technology and offer competitive pricing on their hybrid models. Ultimately, this could lead to a more significant shift towards greener and more sustainable transportation options across the country.
Similarly, hybrid models like Grand Vitara, Toyota Hayryder and Honda City Hybrid are likely to see a price reduction.
For example, the top-end Alpha Plus DT hybrid variant of the Grand Vitara is currently priced at Rs 20.09 lakh, ex-showroom, which includes 28 per cent GST and 15 per cent CESS. If GST is reduced to 12 percent then the ex-showroom price of the vehicle will also reduce.
The GST cut proposed by Shri Gadkari is likely to have a significant impact on the prices of various hybrid vehicles. Let’s see how this offer could impact the price of popular models like Grand Vitara, Toyota Hyryder and Honda City Hybrid.
Starting with Grand Vitara, its ex-factory price is around Rs 11.45 lakh. With inclusion of 12 per cent GST and 15 per cent CESS, the new ex-showroom price is estimated to be around Rs 14.54 lakh, which represents a substantial difference of around Rs 5.5 lakh.
Similarly, the Toyota Hyryder, which shares a comparable price point with the Grand Vitara, is expected to see a proportionate price reduction. A drop in the price of this model by Rs 5-6 lakh seems possible.
Talking about Honda City Hybrid, the ex-showroom price of its top-end ZX CVT Hybrid variant is Rs 20.39 lakh, which is more than the Grand Vitara. However, after adjusting for 28 percent GST and CESS, the ex-factory price of the City Hybrid is Rs 14.37 lakh. The price is expected to be around Rs 18.25 lakh with 12 percent GST and 15 percent CESS. Despite the difference in ex-showroom price compared to the Grand Vitara, there is likely to be a significant disparity in on-road pricing.
In short, the proposed reduction in GST could lead to significant savings for consumers eyeing hybrid vehicles across various models, making them a more accessible and attractive option in the automotive market.