Following Kia’s footsteps, Toyota Indus Motor Company (IMC) has announced amassive price hike for all locally assembled cars. This is the company’sfirst price hike this year and its biggest one yet, due to depreciatinglocal currency, rising freight charges, and material costs.
Effective immediately, the new prices are as follows:*Variants* *Old Price (Rs.)* *Revised Price (Rs.)* *Increase (Rs.)**Toyota Yaris*1.3 Gli M/T 3,039,000 3,799,000 760,0001.3 Gli CVT 3,249,000 4,039,000 790,0001.3 ATIV M/T 3,209,000 3,999,000 790,0001.3 ATIV CVT 3,379,000 4,209,000 830,0001.5 ATIV X M/T 3,449,000 4,309,000 860,0001.5 ATIV X CVT 3,659,000 4,569,000 910,000*Toyota Corolla*Altis 1.6 M/T 3,909,000 4,899,000 990,000Altis 1.6 A/T 4,099,000 5,139,000 1,040,000Altis SE 1.6 A/T 4,509,000 5,639,000 1,130,000Altis 1.8 CVT 4,499,000 5,679,000 1,180,000Altis 1.8 Grande CVT Beige Interior 4,859,000 6,149,000 1,290,000Altis 1.8 Grande CVT Black Interior 4,899,000 6,189,000 1,290,000*Toyota Hilux*Revo G 2.8 M/T 7,989,000 9,819,000 1,830,000Revo G 2.8 A/T 8,379,000 10,299,000 1,920,000Revo V 2.8 A/T 9,229,000 11,349,000 2,120,000Revo Rocco 9,729,000 11,999,000 2,270,000*Toyota Fortuner*Fortuner G A/T 9,959,000 12,489,000 2,530,000Fortuner V A/T 11,459,000 14,279,000 2,820,000Fortuner Sigma 4 A/T 12,039,000 15,069,000 3,030,000Fortuner Legender 12,679,000 15,839,000 3,160,000More Price Hikes Expected
Due to global logistical challenges, increasing freight costs, anddepreciating local currency, the price hikes will continue. True to ToyotaIMC CEO Ali Asghar Jamali’s prediction, Toyota IMC increased the prices ofits vehicles, which will likely prompt other automakers to do the same.
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Furthermore, the entire car industry is facing a severe production crunchdue to delayed approval of the letter of credit for the import of CKD kits.All of these factors combined are likely to have a severe impact on theauto industry.
