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Toyota Thailand plans to slash HEV prices

This cut-off Prius Hybrid is on display at Siam Paragon until Aug 13 to celebrate 55 years of Toyota Thailand.

Toyota Motor Thailand plans to be the first carmaker in the country to cut the retail price of hybrid electric vehicles (HEVs), in line with the lower excise tax the company was granted last week under Board of Investment (BoI) privileges.

Chairman Ninnart Chaithirapinyo said Toyota's new HEV models, which the Japanese carmaker is about to make at the Gateway City Industrial Estate in Chachoengsao province, will be sold at discounted prices in line with the excise tax cut. HEV model retail prices will be cut by a maximum of 12.5%.

"Real prices will be cut in accordance with the new excise tax rate by another 2-12.5%," Mr Ninnart said. "This will be sufficient to attract Thai motorists to buy locally made HEVs."

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