Toyota has joined Japanese rival Subaru in passing-on to consumers the benefits of import duty reductions under the Japan Free Trade Agreement.
The duty reductions begin a phased-in introduction on 15 January but Toyota has moved swiftly, with price reductions for imported models from 1 January.
Price reductions vary according to model – around $800 for the Yaris compact hatchback or up to $7,630 for one of the large SUV models.
While the locally-made Camry/Aurion, North American Kluger, and Thailand-sourced Hi-Lux and Corolla sedan are not included (Australia already has a Free Trade Agreement with Thailand), price reductions will apply to all LandCruiser, Prado, FJ Cruiser, RAV4, Yaris and Corolla hatch models.
“Based on 2014 sales figures, this move is expected to result in lower prices for well over 100,000 Toyota vehicles in the coming year – or more than half Toyota’s annual sales in Australia,” explained Toyota Australia chief Tony Cramb.
