Toyota to lower luxury car prices in line with China tariff cut

Toyota Motor Corp. plans to lower the prices of its luxury Lexus brand cars exported to China following the decision of the world's second-largest economy to cut import tariffs on passenger cars from July, an official of the automaker said Tuesday.Japan's largest carmaker by volume will decide on the level of the price cuts by the end of this month, the official said, as other automakers in the country also welcomed Beijing's decision to slash import duties to 15 percent from the current 25 percent."Toyota will promptly cut the prices of exported cars and take steps so that competitive prod…READ FULL ARTICLE