As expected after the statement of the Indus Motors Corporation CEO, Ali Asghar Jamali, the automaker has increased the prices of both of its locally assembled as well as imported Toyota vehicles. The new prices will come into effect from 22nd March; that is tomorrow.
Here are the new ex-factory prices:
Toyota Corolla New Prices
|Variant||New – PKR||Current – PKR||Difference -PKR|
|GLi MT SE||2,159,000||2,059,000||100,000|
|Altis 1.8 MT||2,339,000||2,264,000||75,000|
|Altis 1.8 CVT||2,464,000||2,389,000||75,000|
|Grande MT SR||2,514,000||2,439,000||75,000|
|Grande CVT SR||2,664,000||2,589,000||75,000|
|Variant||New – PKR||Current – PKR||Difference – PKR|
|Hilux 4×2 (up-spec)||2,599,000||2,499,000||100,000|
|Revo G MT||4,374,000||4,124,000||250,000|
|Revo V AT||4,949,000||4,649,000||300,000|
|Fortuner 4×2 (Petrol)||5,849,000||5,549,000||300,000|
New prices will be applied to all partial payments orders as well. If you are expecting your car in March or April and have already paid full payment, you will not have to pay the difference.
Mr Jamali said at an event just a few days ago that the devaluation of Pakistani Rupee is making it harder to maintain the current prices. Combine that with the increased taxes on raw material as well as the escalating costs of the material itself, Toyota Pakistan will be forced to revise its cars’ prices as well. And it appears that it did not take long for the company to make that decision.
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IMC only recently cancelled a bunch of more booked cars in order to discourage investors from buying them and later selling them at higher prices in the open market. Previously Toyota Pakistan cancelled more than 1300 orders. Both times the general public praised the efforts of the company to cater a genuine buyer. But how the same genuine buyer will respond to the news of increased prices, that will surely be interesting to see.
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