FAW Toyota marks up on car sales tax rise

FAW Toyota Motor Sales Co., Ltd., one of the joint ventures of Toyota Motor Corp., has led the trend to raise its products prices due to the increase of vehicle consumption tax on big engine-capacity vehicles in China.

The country adjusts upward the tax on cars with over 3.0L engine capacities on September 1, 2008, an effort to restrain the consumption of large-emission cars.

As the first company responding to the tax adjustment, the venture sells 4.7L AT high-end Land Cruiser at a new price of 1.11 million yuan, versus the previous price of 835,000 yuan, and prices 4.7L AT lower-end Land Cruiser at 966,000 yuan, 239,000 yuan higher.

Other two 4.0L Land Cruiser models see prices rises of about 90,000 yuan. Its urban SUV brand Prado also sees 60,000-70,000 yuan prices rises on six 4.0L models, with 4.0VX NAVI model priced at 630,000 yuan, 72,000 yuan higher.

Other big China-made SUV brands like Grand Cherokee and Highlander as well as sedan models like 3.5L Accord, Chrysler 300C, Benz E350 and Audi 2008 version A6L will soon be sold at higher prices.