Lexus reduces prices on its cars up to 2 million won

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Lexus reduces prices on its cars up to 2 million won

Published: 05 Feb. 2016, 19:28

Lexus said it is lowering car prices following the government’s decision to reduce the individual consumption tax on cars. The sticker price of the automaker’s cars will be reduced by 300,000 won ($250) to 2 million won.

The automaker lowered the price of its LS600HL by 2 million won to 178.1 million won, and the price of its ES350 dropped 700,000 won to 65.4 million won. The company said it will set an appropriate price reflecting the tax cut for the 2016 New Generation RX, which will be launched later this month.

The government announced on Wednesday that it will lower the tax on cars from 5 percent to 3.5 percent starting immediately.