Toyota Fortuner Prices Have Gone Up by 11.57 Lakh In 9 Years!
The Toyota Fortuner is a highly popular choice among Indian buyers. Over the years, it has impressed us with the butch stance, powerful drivetrain and massive road presence. It is also a product that has had massive upward revisions in price in the last ten years. Believe it or not, the prices of Fortuner has gone up by 11.57 Lakh. What used to be sold at Rs 31.15 lakh in 2016, now sells for 42.72 lakh! ( Both prices ex-showroom)
You'd now wonder what makes this SUV so expensive? Is it just the Fortuner that's getting expensive to own? Well, no! Other notable names like the Volkswagen Tiguan, Audi A4, Mini Cooper S, Skoda Superb, Toyota Camry, Mercedes Benz E200, BMW 320D, Mercedes C220 have also had similar upward trajectories in their prices over the past ten years.
These price hikes can be attributed to inflation and rising taxes in the Indian market and economy. The government makes a sizeable sum every time you buy a vehicle here. India, as a matter of fact, is a land of high tariff.
The material and manufacturing costs have spiked in the past ten years. Automotive manufacturing (and assembly) have thus become more expensive. This has been reflecting in the (ex-showroom) vehicle prices as well. Again, inflation remains the root cause of this.
Another reason is that some of the models mentioned above made transitions to being CBUs from being CKDs previously. Full imports are taxed massively, and the same reflects in their ex-showroom prices as well.
Circling back to the Fortuner, the SUV is seen as a symbol of power and prosperity. The 4x4 Diesel AT variant which has the ex-showroom price of 42.72 lakh rupees, will set you back by about Rs 54 lakh, if you were to actually buy one in Mumbai! Things like the road tax and registration costs vary with states and union territories. In high-tax states like Kerala, a Fortuner could cost much higher!
Why Is The Fortuner So Expensive?
Diving deeper, we get to find several reasons for this SUV to get all the more expensive. First and foremost, Toyota has set a strong reputation for its robustness and reliability. The Fortuner stands strong as the benchmark for these. People are ok with spending on something as reliable as the Fortuner.
Next, buyers find it logical to spend on something that would earn them respect in the society and help them build their own brand image and reputation.
And finally, the resale value! Toyota vehicles, the Fortuner in particular, excel with their solid resale value. One could even see it as a worthy investment for the best long-term value retention. We have come across incidents where used Fortuners have earned their owners figures close to their original purchase value, in the used car market, even after years of usage!
The Camry Is More Tax-Burdened Than You Think It Is!
We have already mentioned the Toyota Camry as a car that has had tremendous price increase in the past few years. Back in 2016, it used to cost Rs 31.9 lakh. Today, a brand new Camry comes with an ex-showroom price of Rs 48.65 lakh. In the Indian context, it also happens to be one of the terribly taxed models!
On each unit of the Toyota Camry Hybrid, the government imposes 28% GST and 15% cess. The road tax, registration fee, state Cess and other miscellaneous expenses would take the on-road price to around 50 lakh rupees! This is significantly higher than what the sedan costs in markets like the USA, UK and Dubai!