Toyota car prices witness a massive jump overnight
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Toyota Indus Motor Company (IMC) has increased the prices of its locally assembled vehicles for the third time in four months. The company has cited rising freight charges and material costs as the reason for the increase.
Like Al-Haj automotive, Toyota IMC will impose the new prices in the following sequence:
- Those who booked cars before the price hike will pay 50 percent of the increase in price. - While the people who booked or will book new Toyota cars after the price hike will pay 100 percent of the increase in price.
Effective immediately, the new prices are as follows: *Variants* *Old Price (Rs.)* *Revised Price for Old Bookings (Rs.)* *Revised Price for New Bookings (Rs.)* *Increase (Rs.)* *Toyota Yaris* 1.3 Gli M/T 2,612,000 2,755,500 2,899,000 287,000 1.3 Gli CVT 2,817,000 2,963,000 3,109,000 292,000 1.3 ATIV M/T 2,745,000 2,902,000 3,059,000 314,000 1.3 ATIV CVT 2,919,000 3,074,000 3,229,000 310,000 1.5 ATIV X M/T 2,970,000 3,129,000 3,289,000 319,000 1.5 ATIV X CVT 3,175,000 3,337,000 3,499,000 324,000 *Toyota Corolla* Altis 1.6 M/T 3,380,000 3,564,500 3,749,000 369,000 Altis 1.6 A/T 3,534,000 3,731,500 3,929,000 395,000 Altis SE 1.6 A/T 3,892,000 4,100,500 4,309,000 417,000 Altis 1.8 CVT 3,872,000 4,085,000 4,299,000 427,000 Altis 1.8 Grande CVT 4,179,000 4,414,000 4,649,000 470,000 Altis 1.8 Grande CVT Black Interior 4,199,000 4,444,000 4,689,000 490,000 *Toyota Hilux* Revo G 2.8 M/T 6,947,000 7,303,000 7,659,000 712,000 Revo G 2.8 A/T 7,306,000 7,667,500 8,029,000 723,000 Revo V 2.8 A/T 8,030,000 8,435,500 8,839,000 807,000 Revo Rocco 8,472,000 8,895,500 9,319,000 847,000 *Toyota Fortuner* Fortuner G A/T 8,569,000 9,034,000 9,499,000 930,000 Fortuner V A/T 9,941,000 10,445,000 10,949,000 1,008,000 Fortuner Sigma 4 A/T 10,392,000 10,940,500 11,489,000 1,097,000 Fortuner Legender 10,842,000 11,842,500 12,099,000 1,257,000
During a quarterly performance review earlier this week, CEO of Toyota Indus Motor Company (IMC) Ali Asghar Jamali said that amid the mounting pressures of global logistical challenges, increasing freight costs, and depreciating local currency, the price hikes are unavoidable.
He stated:
The company is trying to pend the price hikes at least till June 2022. However, the company is still reviewing this plan and will reach a final decision within a week in this regard.
True to his forecast, Toyota IMC did increase the prices of its vehicles by a huge margin. This hike will prompt other automakers to increase their car prices as well.
