Toyota Lanka Private Limited, the Sri Lankan subsidiary of the famous vehicle manufacturer Toyota, has reduced the prices of vehicles being sold in Sri Lanka in accordance with the 2015 Budget proposals.

Toyota Lanka General Manager Eshan Cooray told adaderanabiz.lk that the prices of the latest Prius C hybrid vehicle being sold in Sri Lanka has been reduced by between Rs. 125,000 to Rs 140,000.

Apart from this, the price of a Toyota Hiace 222 van has been reduced between Rs. 800,000 to Rs. 900,000 thus reducing the price of this vehicle sold earlier at Rs. 8.9 million to Rs. 8 million now, he added.

Cooray also said that the price of the Toyota Hiace 202 has been reduced by between Rs. 7 to 8 lakhs. A van sold earlier at Rs. 74 lakhs could now be bought at Rs. 67 lakhs.

Toyota Lanka has also reduced the prices of its cabs by between Rs. 04 to 06 lakhs. Eshan Cooray said a cab which cost around Rs. 77 lakhs earlier now costs only Rs. 71 lakhs.

A special tax has been introduced through the 2015 Budget which includes all the duties in the import of motorcars and vans. According to this new tax amendment, the 202 per cent duty on the import of motorcars below 1000 cc engine capacity has been reduced to 173 per cent.

Accordingly, the import duty on small motorcars would decrees by around 29 per cent.

Where vans are concerned, the 175 per cent duty on cargo vans and the 126 per cent duty on 13 to 20 seater vans have been slashed by 100 per cent.