Toyota Passes On Savings From Japan-Aus FTA Photo:

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Tony O'Kane | Jan, 06 2015 | 4 Comments

Toyota has announced that it has reduced the prices of ten Japan-sourced models in anticipation of the Japan-Australia free trade agreement, which is set to come into effect on January 15.

The price cuts apply to the Prado, Rukus, Prius, Prius V, FJ Cruiser, Yaris, RAV4, Corolla hatch and both the 200 and 70-series Landcruiser.

Meanwhile, Toyota's remaining Japan-sourced models the HiAce, Prius C, and 86 will undergo price adjustments later in the first quarter, along with some minor spec changes.

Due to being assembled locally, the Altona-built Aurion and Camry are not affected.

Neither are Toyota's Thailand-sourced products like the HiLux, Corolla sedan or the US-built Kluger, thanks to existing free trade agreements with those countries.

With the import duty for Japan-sourced vehicles dropping from five percent to zero, the biggest savings are to be had with Toyota's most expensive models, with some Landcruiser 200 variants falling by as much as $7630.

At the other end of the price spectrum, the Yaris will drop by $800, the Corolla by up to $500 (except the Corolla Ascent Sport, which drops by $800), and the RAV4 by up to $2300 for higher-grade models.

Not all price drops are purely due to the removal of import duty though, with some minor specification adjustments for 2015 models also influencing price movements.

And while duty reductions are scheduled to be gradually phased in according to vehicle category, displacement and fuel type, Toyota will effectively subsidise the cost of those cars which won't immediately be subject to the FTA from January 15.

"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," Toyota Australia's executive director of sales and marketing, Tony Cramb, said.

"We want to build our brand and sales by ensuring we provide the best possible customer experience."

"This aggressive move on price is part of Toyota's renewed commitment to the people who buy our vehicles."

MORE: Subaru Australia To Pass On Savings From Japan FTA
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