Toyota Kirloskar Motor (TKM) said it has cut down the production of Camry Hybrid as demand for the model has been "adversely impacted" due to increase in price post GST implementation. Toyota, 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 impacted the demand for the premium sedan.
Also Read: 2017 Toyota Camry Hybrid Launched At Rs. 31.98 Lakh
"Currently, due to the dip in customer demand, we have slowed down our Camry Hybrid production for the time being. We will monitor the situation and ramp up accordingly," TKM Sales & Marketing Director and Senior Vice President N Raja said in a statement.
Also Read: Next Generation Toyota Camry Spotted In China
He however added that Camry Hybrid would continue to be an important part of Toyota product lineup 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.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
