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Toyota Kirloskar Motor (TKM) today said it has cut down the production of the Camry Hybrid as demand for the model has been “adversely impacted” due to an increase in price following GST implementation.
The company, which is a joint venture between the Japanese auto major and Kirloskar group, said the sudden price rise of hybrid vehicles under the GST regime had impacted demand for the premium sedan.
“Currently, due to the dip in customer demand, we have slowed down our Camry Hybrid production for the timebeing. We will monitor the situation and ramp up accordingly,” TKM Sales & Marketing Director and Senior Vice President N Raja said in a statement.
He, however, added that the Camry Hybrid would continue to be an important part of the Toyota product line-up in India.
The company follows the ‘Just in Time’ approach and lean inventory and the entire production process is regulated by the laws of supply and demand, he added.
Under the GST regime, hybrid vehicles have been put in the same category as big petrol and diesel luxury cars, attracting 28 per cent rate with a cess of 15 per cent.
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