KARACHI – The Indus Motor Company (IMC), the assembler and seller ofToyota-brand vehicles in Pakistan, has increased prices of its cars for asecond time in January 2023 following massive depreciation of the localcurrency.
The IMC notified an increase in the prices on its vehicles with the hikegoing as high as Rs1.16 million.
The price of Corolla 1.6 CVT has been hiked from Rs5.369 million to Rs5.749million, an increase of Rs380,000. Corolla 1.8 CVT is now priced at Rs6.07million after an upward price revision of Rs430,000.
The biggest increase was seen in the prices of the Fortuner range. FortunerDiesel Legender witnessed a price hike of Rs1.16 million and it will now beavailable at Rs17.07 million
Toyota Yaris 1.3 MT saw a price surge of Rs260,000 as its rate rose fromRs3.819 million to Rs4.079 million.
Yaris 1.5 CVT’s price has been jacked up by Rs320,000, and it would be nowavailable at Rs4.929 million.
On January 12, IMC also raised car prices across its entire lineup in therange of Rs280,000-Rs1.21 million.
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The new RSP (retail selling price) will be effective on all new ordersbooked after January 12, 2023, the latest notification said.
IMC said economic uncertainties and the extreme volatility in value ofrupee against dollar had adversely impacted the cost of manufacturing ofthe company.
“This situation has made it extremely difficult for IMC to hold on to thecurrent retail selling prices, and therefore, we are compelled to pass onsome impact to the market,” the company said in a statement.
The company added that the increase in prices are subject to change andprices prevailing at the time of delivery shall continue to be applicableon all orders.
