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Toyota not to hasten small car launch
By agencies
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Wednesday, 01 March 2006, 20:30 IST
BANGALORE: Toyota-Kirloskar Motor (TKM) has said the reduction in excise duty on small cars will not hasten the process of the company to launch its small car.
Announcing this, TKMs Deputy Managing Director, K K Swamy said, We consider a variety of reasons including the choice of the customers before launching our project.
However, the company was disappointed with the Union Budget for not extending excise duty reduction to mid-sized and bigger cars.
Swamy said, We cannot understand why cars above 1.2 litres have been exempted from excise duty cuts when almost every other sector has received the benefit.
With the usage pattern in the auto sector undergoing a change because of better infrastructure in the country, there was no reason in excluding certain cars from excise duty cuts.