@bilalahm
Actually, the fact of the matter is that they said that since it is on a deferred payment, the markup will be slightly more. Moreover, the insurance installment is not included in the advertised price of Rs 16,000. Also, since the actual price (which the bank lady quoted) was Rs. 1,309,000, out of which Rs. 500,000 was to be paid in the end. Rs. 214K-240K were downpayment (depending upon the time limit you are financing it for, i.e. 240K for five years, and around 214K for seven years.), and the rest is financed by the bank.
Also, I believe the installment amount that I am quoting (22K) is for the five year plan.
Kudos to the marketing department at UBL. If you look at it, the bank benefits (steady source of income for 7+ years), the car company benefits (Indus Motors, esp when sales are at an all time low due to the current import policy, esp of Altis Automatic,) and moreover a rumored shape change of the corolla around the corner.
I believe that getting rid of the inventory would be a priority for IMC.
On a separate note, IMC has (in my humble opinion only) a history of underconfidence in their prime product (Corolla). If people remember, just when the current shape of corolla was about to be launched, IMC introduced the sunroof in the 2.0D, 1.6GLi, XE limited models. People went for them in dozens, since that was the only thing missing between an Oriel and a 1.6Gli, only to be disappointed with their buy a couple of months later.
In contrast to this behavior, Honda Atlas has ALWAYS had a top of the line model (with a sunroof) available at all times. They trust the consumer to know what he will want, and give him a choice. (the only exception being the Civic 95 Limited Edition with Leather Seats before the VTi was launched.. that was the last mean marketing gimmick pulled off by Atlas)
In the automobile manufacturing sector, a trend such as this is frowned upon (i.e is considered to be one of many "Oachchay Hatkhanday"), and Toyota has been guilty of it since the beginning.
And now, the Altis deal. This goes on to support the rumour mill that a new shape just might be around the corner.