The country’s auto industry has experienced a significant decline in sales due to high prices and record inflation. The recent government decision to raise the sales tax on certain cars has raised concerns among both automakers and buyers.
The outgoing government has chosen to increase the sales tax by 25 percent on locally manufactured cars, particularly targeting four-wheelers priced at Rs4,000,000, which includes the Toyota Yaris. This popular sedan from the Japanese automaker Toyota has a strong resale market, offering various engine sizes and advanced tech and safety features, making it competitive in the local market.
The Yaris, currently priced at over 4 million, will see a further increase in price due to the higher sales tax, leaving cars in a challenging position in the market.
Toyota Yaris Expected Price Increase
| Model | Current Price | New Price |
| Toyota’s Yaris GLI MT 1.3 | Rs. 4,399,000 | Rs. 4,660,000 |
| Toyota Yaris ATIV MT 1.3 | Rs. 4,659,000 | Rs. 4,935,000 |
| Toyota Yaris GLI CVT 1.3 | Rs. 4,689,000 | Rs. 4,967,000 |
| Toyota Yaris ATIV CVT 1.3 | Rs. 4,899,000 | Rs. 5,190,000 |
| Toyota Yaris AERO CVT 1.3 | Rs. 5,099,000 | Rs. 5,401,000 |
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