Toyota earns only ₹40k per Fortuner SUV, the govt gets ₹18 lakh: Here's how (2024)

FAQs

How much Toyota earn from one Fortuner in India? ›

The video explains how the government earns a whopping Rs 18 lakh on every unit of Toyota Fortuner sold in India. The amount is earned by GST.

Toyota Fortuner Taxes Decoded

As per the video, with the ex-showroom price of the Fortuner set at Rs. 39.28 Lakhs, the real price of the vehicle comes around Rs. 26.27 Lakhs, while the rest of the money is comprised of the GST Compensation Cess (22%) and the GST (28%).

Toyota relies on huge production volumes to lower their costs. For a car that sells for $5,000, the manufacturer can make about $2,500 in profits, leaving the cost of manufacturing at about $12,500.

The quality of materials used and the flawless finish are responsible for the resale market value of this car. Even the older generation models of Toyota Fortuner are valued at around 80 per cent of their original cost. The margin you can expect for a Fortuner is much higher than its competitors.

In March 2023, the total sales figure of Toyota cars was 18670 units. Toyota Fortuner sold 3108 in March 2023 which has resulted in 9.28 percent MoM decline.

GST on cars in India is applicable across multiple slab rates of 5%, 12%, 18% and 28%. The most relevant GST rate on cars is 28% that applies to motor vehicles including those for personal as well as commercial use.

All automobiles are taxed at 28% under the goods and services tax (GST) but there is also a compensation cess. SUVs attract the highest cess of 20-22%.

The price of Toyota Fortuner starts at Rs. 32.59 Lakh and goes upto Rs. 50.34 Lakh.

Is Fortuner successful in India? ›

The Toyota Fortuner has had an immensely successful run in the Indian market for the past 13 years. Since its launch in 2009, it has captured 75% of the market in its segment of luxury SUVs.

Fortuner Is A Great Suv

Fortuner is a great full-size SUV, and a rigid vehicle, it has a separate fan base in India, people buy it for showing their standard, and its look is just damn good.

Then the government imposes another tax in the form of the I-GST (Integrated Goods & Services Tax), at 18 %. And Toyota has yet to even begin building the car. Once the car is built and dispatched out of the factory, the Government charges another tax: GST.

Toyota's strength is its low-cost/high-quality manufacturing. Tesla's competitive advantage rests in the desirability of its products and strong brand, as well as in the progress it has made reducing battery costs and the AI capabilities powering its self-driving technology.

Since 2021, Tesla has significantly expanded its production and sales volume, which improved the company's earning capacity. For the three quarters through December, Tesla earned the equivalent of 1.26 trillion yen in net profit, which is closing in on the 1.9 trillion yen Toyota generated during the same period.

The top worldwide market for both Toyota and Lexus brand vehicles is the United States, followed by Japan.

BMW X1 price starts at Rs 45.90 Lakh ex-showroom for sDrive18i xLine (Petrol) and Toyota Fortuner price starts Rs 32.59 Lakh ex-showroom for 4X2 (Petrol). X1 has 1995 cc (Diesel top model) engine, while Fortuner has 2755 cc (Diesel top model) engine.

However, knee space could be limited for taller folks. The third row of the 4Runner only has enough space for children. At the end of the day, options like the Toyota Hilux and Fortuner aren't in the United States because they fail to meet rising emission standards.

Excessive Turbo Whistle

It has been reported by some Fortuner owners that they experience a very loud whistling/whizzing sound coming from the engine bay. There were suggestions that this may be caused by a loose turbo pipe. Some rubber pipes also tend to develop cracks due to ageing, causing air leaks.

Sadly, you can't buy it here. Toyota being a global manufacturer, has a lot of products that are market-specific. One such offering is the Toyota Fortuner midsize SUV.

Which car is bigger than Fortuner? ›

India. Toyota launched the Fortuner in India in 2009. It is assembled at the Bidadi, Karnataka plant of Toyota Kirloskar Motor from imported CKD kits. Fortuner production increased to more than 950 vehicles per month from the initial 500 units per month.

The auto tax rate ranges anywhere from 0% to 8.25% depending on the state, with some states having different tax rates based on the type of vehicle you purchase or the county where you purchased your car. The chart below shows the car tax rates by state according to each state's department of insurance.

The Trade Policy and Customs rules allow import of vehicles into Pakistan. Both new and used vehicles can be imported. 2. New vehicles can be imported freely by any one, under the generally applicable import procedures and requirements, like any other goods, on payment of applicable duty and taxes.

Baggage Scheme: A person residing abroad for a minimum period of 180 days in immediately preceding 7 months can import a vehicle into Pakistan under this scheme. Duty and taxes are fixed in US $ for Asian make vehicles in terms of engine capacity, which may be confirmed before availing any of the above schemes.

Pakistan increases the sales tax to 25% from 17% on products that it classifies as luxury items, The News reports, citing a notification from the Federal Board of Revenue.

1. Himachal Pradesh. Road tax in Himachal Pradesh is among the lowest in India, making it the cheapest state to own a car.

Import tax on all semi-knocked-down cars - where major parts are imported separately and the final vehicle is assembled in the country - will be raised to 35% from 30%. The tax hikes, part of the government's federal budget which was presented on Wednesday, come into effect from April 1.

How much is the tax for 10 lakh car in India? ›

Buyers must pay 1% TCS on motor vehicles costing above Rs. 10 lakh, and can deduct the TCS amount from their total tax liability for the year. TCS or Tax Collected at Source, is the tax that a seller collects from the buyer of a car, the invoice of which exceeds Rs. 10 lakh.

Armoured Enhancements :

Blast Resistant Mild Steel fuel tank sheath. Specially designed Vehicle Battery and Engine Control Module (ECM) armour safeguard with Ballistic Steel as per standards. Additional bullet catcher and large overlaps on door frames.

Toyota Fortuner GR-S is the top model or the costliest variant from Toyota. It is priced at 59.66 lakh in Delhi. It comes with 2755 cc Diesel engine and 6-speed gear Automatic (TC) transmission. It gives mileage of 14.2 kmpl (ARAI Mileage) The fuel tank capacity of Fortuner GR-S is 80 litres.

Toyota Fortuner is a 7 seater SUV available in a price range of Rs. 32.58 - 50.34 Lakh. It is available in 7 variants, 2694 to 2755 cc engine options and 2 transmission options : Manual and Automatic.

On average, you can expect your Toyota vehicle to run for about 10 – 15 years and around 150,000 – 200,000 miles.

What is the best used Toyota Fortuner model? It is best to choose a Fortuner model that was released post-January 2012. These models came with some updates that improved the overall performance. Also, the front-end design was made more attractive.

The top Luxury cars in India include Toyota Fortuner (Rs. 41.21 Lakh), Toyota Fortuner Legender (Rs.

To summarise, a Fortuner is actually a vehicle which fits a middle class mentality- provides long-term value (resale/ maintenance etc.), excellent attributes of a vehicle (for multiple reasons like someone mentioned) and more importantly, the finances are not stretched to avail the same.

5-star. Toyota Fortuner has been awarded 5-star safety rating. 5-star rating is considered the best whereas 1-star rating is considered the worst.

Why do Indians buy Toyota? ›

Best Resale Value:

Toyota cars have the best and highest resale values. Even after 5 years of buying a Toyota car, your car might have a 68% resale value depending on the condition of the car. And no doubt, this value is way more than any other car.

Toyota Motor Corp. won't expand further in India due to the country's high tax regime, a blow for Prime Minister Narendra Modi, who's trying to lure global companies to offset the deep economic malaise brought on by the coronavirus pandemic.

Along with durability, Toyota vehicles are known for having impressive resale value. According to Kelley Blue Book, the Toyota brand is ranked as having one of the highest resale values. Safety is also another critical factor to consider when purchasing a vehicle, and Toyota makes that a top priority.

According to owner surveys conducted by Consumer Reports, the Tesla Model S has had two years with a ⅕ reliability rating (2013 and 2020). The Model S has never had a year with a 5/5 rating. By contrast, the Toyota Prius has earned a perfect 5/5 reliability rating from Consumer Reports every single year since 2011.

However, in this instance the three vehicles were tested over a quarter-mile and on such a short distance, the Lucid Air Sapphire was the unquestionable winner. By the end of the run the Lucid was traveling at 156 mph (251 km/h), while the Tesla reached 152 mph (244.6 km/h).

Out of all the 2021 Toyota models, the Toyota Prius Prime Plug-In Hybrid is the most fuel-efficient Toyota vehicle with an estimated 54 city mpg and 133 highway mpg.

“Tesla buyers today are the historical Honda and Toyota buyers of the past. They're switching over to Model 3s and Model Ys,” McDonald said, highlighting that Tesla could overtake Toyota in a year or two based on its current momentum.

Tesla's evolution in California and its recent price cuts suggest it will overtake Toyota in a year or two, Loren McDonald, CEO of the analysis and consulting firm EVAdoption, told Automotive News. Tesla has already become the top luxury-segment automaker in the US in 2022.

The target market for Toyota includes drivers across all age segments, from early-mid 20s to retired boomers. The Toyota target market is located worldwide. The brand is extremely popular in its home country of Japan, although the key Toyota customer base is in North America.

What is Toyota's number 1 selling car in the US? ›

With three vehicles in the top 10, Toyota maintains its stranglehold on global new-car sales. The Toyota Corolla was the world's best-selling car in 2022, with sales of 1.12 million cars, according to new data.

In this article

Toyota Motor Corp. kept its crown as the world's top-selling carmaker in 2022, widening its lead over Volkswagen AG even as supply-chain disruptions continued to weigh on global automobile production.

The new MG Gloster will rival the Toyota Fortuner, Ford Endeavour and Mahindra Alturas G4. We compare the prices, engine options and dimensions of the four SUVs. MG Gloster vs Toyota Fortuner vs Ford Endeavour vs Mahindra Alturas G4: Among the four SUVs, the starting price of the Fortuner is the lowest.

11.26 Lakh costlier than base model of Toyota Fortuner priced at Rs. 32.59 Lakh. The claimed mileage of Audi A4. In technical specifications, Audi A4 (Top Model) is powered by 1998 cc engine , while Toyota Fortuner (Top Model) is powered by 2755 cc engine.

Good Resale Value :

This impressive resale value is due to the fact that the make and materials of the Fortuner are top notch and the engine remains reliable even after years of usage. The safety features, the AMT gearbox, and other premium features of this vehicle make it worth the money even during resale.

The Toyota Fortuner 2023 prices range from $49,965 for the basic trim level SUV Fortuner GX to $62,945. The Toyota Fortuner 2023 comes in SUV.

The Toyota Fortuner is available from $49,965 to $62,945 for the 2023 range of models in SUV body types. Toyota's tough Fortuner is a seven seat family hauler based heavily on the brand's top-selling HiLux ute.

A. A diesel engine is more efficient as it provides more mileage compared to petrol engines.

Operating Profits Of Major Brands

Among the mass market segment, Kia has the highest operating profit per car at around Rs 70,000. Maruti and Tata have an operating profit of around Rs 40,000-45,000 per car whereas Hyundai earns a profit of around Rs 30,000 per car.

How much profit does a dealership make on a car? ›

The auto industry is a huge business and new car dealers have been benefiting from high transaction prices with record profits. According to data from J.D. Power, the average profit that a dealer makes on a car is set to reach $5,013 in the first quarter of 2022, a whopping surge of 126% compared to the previous year.

Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses. Toyota net profit margin as of December 31, 2022 is 6.85%.

Maruti Suzuki is the No. 1 car company in India in terms of market share. Occupying almost 49% of the country's passenger car market, Maruti Suzuki is well-loved and respected throughout the country for its efficient, frugal, and affordable vehicles.

Maruti Suzuki is the largest automotive manufacturing company in India.

India is now the third largest auto market in the world. India has overtaken Japan as the third largest light vehicle market in the world in 2022, led by a strong recovery in demand for personal mobility and last-mile deliveries after Covid-19.

Salary Ranges for Car Dealership Owners

The salaries of Car Dealership Owners in the US range from $18,902 to $495,413 , with a median salary of $90,593 . The middle 57% of Car Dealership Owners makes between $90,596 and $225,300, with the top 86% making $495,413.

In terms of the best time of the year, October, November and December are safe bets. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. All three goals begin to come together late in the year.

Tesla's profit margin per car in 2022 was $9580, compared to over $6000 in 2021 and over $1700 in 2020. As Tesla was working toward mass manufacturing in 2020, the company's profitability per car has increased slightly. What is this?

NEW DELHI: Tata Motors on Wednesday reported a consolidated net loss of Rs 4,951 crore in the June quarter as chip shortage and Covid-19 lockdown in China impacted Jaguar Land Rover sales. The company had posted a consolidated net loss of Rs 4,450 crore in the same quarter last fiscal.

Is Toyota losing market share? ›

Toyota lost the title of America's top automaker by sales to General Motors in 2022, but it still expects to hold its edge in passenger cars sold. Detroit-based General Motors sold 2.3 million vehicles last year, up 2.5% from the previous year. Toyota sold 2.1 million vehicles, down 9.6% from 2021.