Toyota nixes new car, factory plans, blames ‘prohibitive’ tax rates - News Now Live (English)

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Tuesday, 15 September 2020

Toyota nixes new car, factory plans, blames ‘prohibitive’ tax rates

Japanese auto major Toyota is suspending plans to launch new cars in India and is also putting a halt to fresh factory investments as it blames "prohibitive" taxes on vehicles for depressing consumer demand, leaving automakers with high costs and unutilised and idle capacities.

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