Indus Motor Company (IMC) is preparing to implement a 7% price hike acrossits entire range of vehicles. This decision stems from the devaluation ofthe local currency in relation to the US dollar. IMC’s CEO, Ali AsgharJamali, discussed the inevitability of this price increase during aconversation with a group of journalists at a local hotel on a Wednesdayafternoon.
Jamali elucidated that the surge in vehicle prices was unavoidable due to asignificant rise in production costs attributed to the unprecedenteddepreciation of the rupee. He highlighted the impact of a recent shift inthe exchange rate, which has resulted in a roughly 9% increase in prices.IMC is diligently striving to mitigate this impact by implementingausterity measures and intensifying efforts to localize production. Thecompany hopes to absorb up to 2% of the cost increase, while the remainderwill be passed on to customers. In essence, the decision to raise vehicleprices is seen as the only viable course of action in response to theseeconomic challenges.
