In a rather shocking move, Indus Motor Company (IMC) reduced the price of its imported cars. In a notification, the company said that its commitment to prioritizing customer satisfaction remains steadfast, and “we are pleased to announce revised Retail Selling Price (RSPs) ex-factory Karachi for CBU passenger line-up.”
Revised CBU Car Prices
The company has reduced the prices of two of its vehicles:
- Toyota Camry 2.5L Hybrid observed a massive drop of Rs. 23,869,000, taking the price to Rs.29,990,000 from the previous Rs. 53,859,000.
- The Land Cruiser 300 ZX will now cost Rs. 120,000,000 instead of Rs. 156,829,000, as its price has decreased by Rs. 36,829,000.
Terms and Conditions
As per IMC:
- These indicative prices are purely provisional and are subject to change.
- These prices will not be considered as the final price, as the rate at the time of delivery will be applicable.
- The revised prices will be applicable on all orders invoiced as of March 12, 2024, or after.
- The new indicative prices are ex-factory Karachi per unit and include sales tax, FED, CVT, and dealer’s commission.
The car assembler has not mentioned the specific reason for this sudden drop in prices. This is a good news for the consumers of both of these cars, considering the decrease is quite significant. The auto sector of Pakistan is still phasing through uncertain times as economic conditions are still unstable, and it tends to remain the same for the foreseeable future. Recently, on the one hand, Pak Suzuki announced an increase in its car prices, while on the other hand, Kia Pakistan reduced the rates of its crossover SUV, Kia Sportage. And now, Toyota has announced these revised prices for its CBU line-up.
Hopefully, the new government will take concrete steps to revive the automotive industry so that it becomes stable, prices can come down, and people can afford cars. So, fingers crossed for a hopeful future.
What do you think about these reductions in Toyota CBU car prices? Please share your thoughts with us in the comments section.
This is something that I have been saying for years; that IMC was, and still is, over charging for these CBU vehicles. Even with these reduced prices, IMC will STILL be making corors of rupees profit on each sale of LC or Camry.
For example, The JAPANESE MARKET SELLING PRICE, INCLUDING GOVT. TAX, for the LC ZX is 7.3 million yen or 1.36 Caror rupees. (IMC will get the LC 300 for much less than that!) But still if we even consider the full market price of the LC. and Even if the Pakistan government charges 500% tax on this price which comes to 6.8 caror PKR, that would mean 1.36+6.8 = 8.16 caror PKR. IMC is still charging 12 carors for it! Talk about mind blowing levels of company overheads and profit margins. The profit margins become even more insane when we keep in mind the fact that IMC will actually get the LC much cheaper than that because the deal is for multiple units of the SUV, company to company. Same case for Camry.
Just to drive the point further.
Toyota Land Cruiser ZX CBU market selling price in the Philippines = 5,732,000 Philippine Pesos = 2.855 Caror PKR
Toyota Land Cruiser CBU market selling price in Vietnam = 4,286,000,000 Vietnamese Dong = 4.788 Caror PKR