ISLAMABAD – Toyota Motors is planning to launch new Model Variant inPakistan which would have lower prices than the current models.
Toyota may halt the production of Corolla XLi and GLi variants and replacethem with Yaris sedans, following the dramatic fall of Pakistani Rupeeagainst the US Dollar, According to a private media outletlink.
Industry experts believe that one reason why Toyota has opted for Yarisinstead of the earlier-announced ‘Vios’ is because of the price differencebetween both cars; Vios is available in the international market forRs28,00,000, whereas Yaris is much cheaper and will be launched at aroundRs19,00,000.
A source privy to this development stated that the crisis faced by theautomotive industry in Pakistan has affected the plans of all companies.
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For Toyota, its Corolla manufacturer, Indus Motor Company, remained closedfor a total of 12 days in the month of July.
“The steep increase in car prices after currency devaluation as well as theimposition of Advance Customs Duty (ACD) on all imports and Federal ExciseDuty (FED) on assembled cars has left us no option but to cut down theplant production,” the IMC chief had said.
