Currently, the wave of price decreases is going on in the local market as BIG 3, Toyota, Suzuki, and now Honda have reduced their car prices. The prices came down after PKR appreciated against the US dollar in last week or so. The dollar rate has come down to Rs. 214 from Rs. 250, and the companies have decided to pass on the impact to the consumers.
In this article, we are going to discuss the last price increase vs. the fresh decrease in Toyota car prices.
USD Impact on Toyota Car Prices
A number of people have mentioned that the price drop is not as much as the last increase. But one thing is to remember the dollar rate, which directly impacts the car prices in Pakistan. The companies increased the prices when the dollar was on a very high flight daily bases, and they faced the pressure for quite a few days and then passed on the effect to the consumers.
On the day when Toyota announced last price increase (July 30), the dollar rate was Rs. 239.37, and it is vital to mention that the price hike (April 29) before that was announced when the dollar rate was Rs. 185.87. This shows how much pressure the company was facing.
Meanwhile, the price drop was announced at a dollar rate of Rs. 213.90 (August 15). The calculation shows that the price decrease is quite close to the drop in the dollar rate from July 30 to August 15, 2022.
Here is a complete chart of the last price increase vs. the latest price decrease for Toyota cars. Furthermore, we have shared the current prices of these cars.
We hope that this artwork will be helpful for you in understanding the difference between the increase and the recent reduction. Also, we do hope that other companies will follow suit very soon and announce a drop in their car prices.
What do you think about these recent price decreases? Are they justified? Please share your thoughts in the comments.
Now that is irresponsible reporting, why the dollar rate only? Electricity charges, basic cost of living should also be taken into account, please note despite dollar coming down employees salaries have not been reduced, nor electricity charges have been declined, therefore, it is understandable that decrease is lower than increase.