*ISLAMABAD – Toyota Pakistan, has hiked prices of the cars after the latestdevaluation of Pakistani rupee against dollar.*
The company has decided a phased increase in retail prices ranging Rs50,000and Rs175,000 for November – December and Rs100,000 and Rs 350,000 per unitfrom January 2019.
The automobile company in a statement said that the continued downwardslide of Pakistani rupee has resulted in a substantial cost increase of itsoperations. “It is extremely difficult for IMC to hold the current retailselling prices and therefore, we are compelled to pass on a part of thisexchange impact to the market,” it said.
IMC, in addition, will also be absorbing 100 percent of Retail Sales Price(RSP) increase from customers who have paid full payment and their deliveryis the tentative schedule for October and November 2018.
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Earlier, Toyota Indus announced that it has stopped taking orders after therecent decline in Pakistani rupee against dollar. “IMC would like to informthe general public that we have stopped our order bookings for a few days,due to the recent depreciation in Pakistani Rupee’s value, which hasresulted in substantial cost increase on account of C&F, Government Dutiesand Taxes, imported components and raw materials for local parts,” read anotice issued by IMC.
