IMC might increase the prices of its cars second time this year

Indus Motors Pakistan might once again increase the prices of its Toyota vehicles in the coming months. The chief executive officer of IMC Ali Asghar Jamali hinted the potential price hike while talking at company’s “Annual Industry Workshop and Meet the Pres” event held in a hotel in Muzaffarabad Azad Kashmir.

The CEO said,

There’s a six per cent devaluation in rupee value. It’s unsustainable to operate under the present prices

The CEO further mentioned how the devaluation of Pakistani rupee has caused the prices of raw material to rise. He indicated that the production costs have increased. The increase in the prices of fuel, steel, copper along with the regulatory duty on raw materials, all factors combined is making it difficult for the company to retain the current retail prices of its car.

One can argue that the carmaker is getting ready to increase prices of its vehicles once again. IMC only recently bumped the prices of its vehicles a couple of months or so ago.

IMC Corolla is ranked 23rd among 170 countries, has the highest sales in Asia Pacific region and is the 4th highest selling Corolla in the world.

IMC has invested to increase its production capacity and reduce the delivery time of vehicles, according to IMC CEO,

Indus Motor also has invested over Rs4 billion to de-bottleneck its production facility and increase its capacity by 20 per cent i.e. up to 75,000 units annually by the second quarter of 2018

The CEO further said,

We have been fighting against the menace of premiums for a long time. Our recent breakthrough initiative of cancelling multiple booking orders has helped counter premiums. Thousands of orders have been scrutinised for investors’ activity and numerous have been cancelled. We have been regularly running customer education campaigns against premiums. We have gone the extra mile to fight this menace, now it’s the government’s responsibility to take initiatives such as wholesale retail mechanisms and increased transfer taxes to discourage premiums

The event’s topic was the impact of CPEC and the potential of Pakistan’s auto industry. The event was held with the collaboration of Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM).

Let’s us know what you think about what the IMC CEO has said in the comments section below.

I am an avid automotive enthusiast and like to write about cars and motorcycles.

Notable Replies

  1. I m forced to say " yeh bik gai hai gormint" ..... n Toyota is acting as thiefs...:rage:

  2. all pakistani car makers are thieves...

  3. Such outrageous statements are given to see response of public and regulatory bodies/Govt. If the response is not very serious, they will go ahead and increase the prices. Honda Atlas will follow soon along with Pak Suzuki and together all 3 will happily make extra billions in their bank accounts.

    These thug assemblers make these strategies jointly to extract as much money out of public as possible. Some of the money may be already on the way to relevant ministries to keep them quiet (and happy).

  4. May Honorable Chief Justice of Pakistan take notice of these threats. It is very un-fair that people get their car booked and pay additional amount at time of delivery if manufacturer increase price during booking period. Car manufacturers are responsible for delays in delivery even though most of the customers are ready to pay full in advance. If car manufacturer increase price in a year for what ever the reasons, they should keep it for a complete year.

  5. With dollar lurking at 118 what else can be expected?

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