With dwindling sales and production cuts ruling in the local industry amid prevailing economic breakdown, there seems no change in Toyota Indus Motor (INDU) ‘New Model Launch Plan’. Despite the year-on-year (YoY) and month-on-month (MoM) sales took a nosedive, the company is gearing up to launch facelift of its bestseller sedan ‘Toyota Yaris’ this year.
In a communication, sources stated that these are planned 36-48 months in advance and new variants of all brands such as Yaris etc. will be launched as per plan. Meaning, Toyota lovers may expect Yaris’ facelift by the end of this year or early next year.
It is pertinent to mention that Yaris was launched in March, 2020, and it’s been three years since the car came to Pakistan.
Adding more to the episode, our credible sources also revealed the plan to come up with a local assembled hybrid car, probably Corolla Cross, stating, “hybrid vehicle launch is also as per initial stated plan and will only face delay due to external circumstances.”
Toyota Reports 52% Drop in Sales
Following Pakistan Suzuki Motor Company (PSMC), Toyota Indus Motors (INDU) sales also marked a new low – posted a slump of 52% (year-on-year). Similarly, monthly sales followed the footprints – the company reported a severe downtrend since June 2020.
Highlighting YoY sales performance, INDU stated that sales are down by 52% in 1HFY23. Coming to monthly sales, the company sold only 1803 vehicles last month. It is the lowest sales trend since COVID-19 shattered the local auto industry.
And the reason for the prevailing sales crisis is again import curbs inflicted by the State Bank of Pakistan. The company’s management revealed that sales would have been better if LCs are allowed.
What do you think about the upcoming facelift of Yaris and locally assembled Corolla Cross? Drop your thoughts in the comments section.
