Toyota's statement comes after a report cited that future investments by the automaker might stop given the high tax incidence in India.
Toyota’s Vice Chairman Shekhar Viswanathan stated that the government’s high taxes on cars and motorcycles makes it difficult to build scale.
In the two-wheeler segment, Hero MotoCorp reported a 3.97 per cent dip in sales to 5,14,509 units as compared to 5,35,810 units sold in July 2019.
Toyota has also unveiled several initiatives like EMI deferment for three months across all car models in India to keep customer's financial planning stable.
Toyota said that the decision is in consonance with the directives imposed by the Karnataka government to stem the spread of Covid-19.
A re-badged Baleno, christened as ‘Glanza’, which was speculated to be in Toyota’s pipeline, was confirmed after the company teased it for the first time last week.
Toyota has been known in India for the past 20 years thanks to some of its world-class products like the Qualis, Innova, Fortuner and Corolla.
Both the Innova Crysta and Fortuner get updated interiors and new features.
The auto-maker, which sells popular models like Innova and Fortuner, has been moving from non-renewable to renewable sources of energy across its business operations.
Here's a look at how the 2019 Honda Civic stacks up against the Toyota Corolla Altis.
Toyota has two assembly plants with 3.1 lakh units combined installed capacity per annum at Bidadi industrial township, 40 km from the city.
Toyota has sold over 1,81,000 units of Innova Crysta since its launch in 2016 and sold over 1,41,000 units of Fortuner since its launch in 2009.