Toyota Corolla Prices Expected to Increase Further

Toyota Corolla GLi

IMC (Indus Motors Company) the local distributor of Toyota in Pakistan, has hinted a possible increase in the prices of its product line-up especially Toyota Corolla 2016, in the near future. It should be mentioned that IMC has already increased the tariff of its products earlier in May 2016.

Indus Motor Company held its analyst briefing recently, where the company’s briefing for security analysis (June 30, 2016) hinted at the possible increase in the coming months to cover the Pakistani Rupee depreciation in relation to US Dollar and Japanese Yen.

USD-JPY Parity

Picture Courtesy: IMC-Briefing for Security Analysis

 

Moreover, Pak-Suzuki increased the prices of their products by 3% from August 2016, which saw an increase of PKR 20,000 to 30,000 in the price tags of all vehicles offered by the company. And now, we might expect to hear the second price increase by IMC (The 2nd largest auto-manufacturer in Pakistan) in the same year. Here I would like to mention that the first price hike by IMC, saw an increased price tag of PKR 10,000 to 65,000 in Toyota Corolla cars in Pakistan.

Furthermore, EDB (Engineering Development Board) has asked both IMC and Pak-Suzuki to justify the reasons behind these latest price hikes. But so far, no response has been made from both auto-manufacturers.

The fact still remains that the company yielded a solid profit of PKR 9.1 billion after taxes as compared to the previous Fiscal Year’s 3.9 billion PKR. This growth is mainly attributed to an increasing demand for the company’s Toyota Corolla models in the local market. It should also be noted that IMC is all geared up and prepared to introduce the new Toyota Hilux Revo and the 2nd Generation of Toyota Fortuner in the coming months, which will help to elevate the status of IMC in the eyes of Pakistanis and will help the company to retain its good public relations with the investors and customers. But the question still remains: How will this probable price hike effect the company’s sales and overall customer relations?

Let us know about your remarks on this expected price hike.

 

We all make mistakes in life but I believe in learning from them and that is why I have opted to become an auto-journalist. I have a tech background but I prefer to write and express my views on cars because I am petrol head.

  • Guest

    This is just bull****… Seriously… Is there no check and balance in this country? They just increased the prices a couple of months ago and now they are again subliminally stating this thing in their business outlook of their security analysis presentation…
    I am disappointed massively in this Japanese shitty monopoly in our country.

  • FBR

    EDB, CCP and MoI should perform a combined audit of IMC’s costs (inputs) and sale prices for every car in available lineup. They should then rule if the price gouging being conducted is justified or not. The figures should also be made public for the sake of transparency.

  • Ahmed

    Yes and we will continue to be a bunch of jackasses and keep buying their shitty corolla.

  • Shurjil Butt

    Jack asses are not choosers 🙂 and that is the the bottom line of this corrupt country

  • adnan syed

    When the yen is weaker nd dollar price remain stable. Why didn’t they reduce the price of their vehicles. A lame excuse as they know no customer protection law is in operation.

  • Uanoingh

    Fine with the price hike… Let them make market clear for the Chinese Auto Gaint FAW which is goona lauch their vehicles from 10 lacs to 18 lacs price category… FAW B-30, B-50, B-70, X-80, ACTIS, V2 Automatic and SIRIUS 2016 Model…. All are best cars, have a test drive of them if you live in Saudi Arabia , Till the end of 2018, these all models will be introduced in Pakistani Local Market.

  • May be they are bringing facelift early 2017

  • car_enthusiast

    And Pakistani’s are going to jump on these inferior Chinese vehicles costing 2 million PKR?

  • Zulfiqar Ali Soomro

    If they have a good ride quality why would they be inferior? Or are you talking about Pakistanis mindset associated to the word “china”

  • Zulfiqar Ali Soomro

    But people will continue buying their shit which will yield them profits. So why should they give a damn

  • AbdulB1

    Daku motor company

  • Khurram

    My dear man it has taken Toyota 10 years to send tremors across U.S auto industry. Do you think that F.A.W (famous for heavy vehicles) shall be able to make a dent in Toyota sales?

  • Khurram

    Compared to crap Honda, Toyota is a lot better car. And I do not want ill-informed people like you to tell me that F.A.W or Honda is better than Toyota. There are many V2 users, who say that Passo is way better than it.

  • Usman Haider Sheikh

    exactly they are here to do business and despite crying we keep providing them business at exorbitant prices even so why’d they reduce prices.

  • Auto expert

    Toyota is just pathetic….Drive KIA , HYUNDAI,FORD, VOLKSWAGON and Nissan Sedans , you will start hating Toyota… Toyota cars are not Cozy…. News are there about FAW lauch of Sedans in Pakistan. But FAW just takes things copied….. Have no experience in how they feel in drive… FAW does not develops, but buy technological methods

  • xhongigou

    O my Uncle….. What the hell I will do my Booked FAW V2 …………..If Passo is far better …. Actually my friend got PASSO it was accidented/ repaired, gear box had fault , it cost him of 14 lacs ……

  • Zulfiqar Ali Soomro

    Ofc not. But its a start which also might trigger the pig3 to up the ante, keep raising the quality o,f their products no? Better overall for our auto sector

  • Zulfiqar Ali Soomro

    1. Toyota is not a better “car” neither are the ones they make here in PAKISTAN about which we are talking about on this thread.
    2. Passo is good and I would too prefer it over V2 but it is not Pkdm, it is Jdm.
    3. Back to Pkdm, both Honda and Toyota have pros and cons and its a never ending war, opinions are formed based on those and mine was this. Who the hell are you to tell me otherwise?
    4. Last but not the least, my comment was about the pig3 (IMC, PS and AH) in general not just about your ‘awesome’ Toyota. Who’s ill-informed?
    Learn to grasp and comprehend what people are talking about before calling them likewise

  • Shariq

    delivery time too damn long. waiting since june.

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