Toyota Kirloskar cuts prices on all models

New Delhi, Dec 8 (IANS) Automobile manufacturer Toyota Kirloskar Motor Monday said it would pass on the entire benefit of recently announced duty cuts to customers, and that prices of all its models will be reduced with immediate effect.

The company in a statement said the price of its popular multi-purpose vehicle would be reduced by up to Rs.32,780, while high-end models like Corolla would be cheaper by Rs.40,750.

'As a responsible corporate citizen, we feel this will stimulate the market by making our cars more affordable to the Indian customer. We are also positive about the recently reduced repo rates by the government, which should reduce interest costs for banks,' said deputy managing director in charge of marketing Sandeep Singh.

On the recent fuel price cuts, Singh said: 'We are happy that ownership costs also will be reduced due to the government's initiative to reduce fuel prices by Rs.5 and Rs.2 per litre (for petrol and diesel, respectively).'