ISLAMABAD: Indus Motor Company (IMC), commonly known as Toyota has increased prices on its entire lineup, confirmed Indus Motor Company chief executive officer (CEO) Asghar Ali Jamali on Wednesday.
Jamali says the new prices would not affect customers who booked their vehicles before November 10.
The prices have been increased by a minimum of Rs140,000 and a maximum of Rs580,000.
Following are the new prices of Toyota Yaris, Corolla Altis Grande, Revo, and Fortuner models.
The prices of Corolla Altis Grande X CVT 1.8 and Corolla Altis Grande X CVT 1.8 B have gone up by Rs210,000. These variants will now be selling for Rs4,079,000 and Rs4,099,000, respectively.
The prices of Corolla Altis X Automatic 1.6 and Corolla Altis X CVT-i 1.8 have gone up by Rs200,000 each. The new price of both variants are Rs3,449,000, and Rs3,779,000.
The manual version of Corolla Altis X 1.6 has seen a price hike of Rs190,000. Its new price is Rs3,299,000.
Fortuner Diesel has seen the highest price jump of Rs580,000, which took its price to Rs9,849,000 from Rs9,269,000.
Fortuner Lo has seen a price hike of Rs500,000 and will cost Rs8,149,000 against the old price of Rs7,649,000.
Another Rs500,000 was added to the price-tag of Fortuner Hi. The variant, which was available at Rs8,899,000, will cost Rs9,399,000.
The auto and manual versions of Revo G went up by Rs330,000. The new prices are Rs7,109,000 and Rs6,759,000, respectively.
The price of REVO V Auto rose Rs400,000 to Rs7,779,000.
Toyota Yaris ATIV CVT (Hi) and Yaris GLi CVT (Lo) will now be selling for Rs2,849,000 and Rs2,749,000, respectively.
The new price tag of Yaris ATIV X CVT (Hi) and Yaris ATIV MT (Hi) are Rs3,099,000 and Rs2,899,000 with an increase of Rs200,000 and Rs180,000, respectively.
The price of Yaris GLi M/T (Lo) has increased by Rs140,000, and will be available at Rs2,549,000 against the old price of Rs2,409,000.
Why did cars prices go up?
Indus Motor Company CEO Asghar Ali Jamali told SAMAA Digital that the new prices would be applicable on bookings made on and after November 10. “The new rates, however, will not apply to those who have already booked their cars and have deliveries due by December,” said Jamali.
“We won’t impose the burden of the price hike on customers. As a result, we have to bear the loss of Rs3 billion,” Jamali added.
Jamali said that those who have booked their vehicles and have November-December deliveries would pay the old rates. However, they will have to clear the remaining amount by November 15.
Jamali added that deliveries for January would be charged the new rates.
“The cost of raw material has increased in the international market that causes production cost to rise and the dollar rate has reached Rs174.70. Moreover, freight charges have gone up,” he said.
Toyota reports highest ever sales in Pakistan
In August, Toyota reported its highest-ever sales in terms of revenue and a 152% increase in its annual profits for the financial year 2021.
Toyota sold 57,236 vehicles during the year that helped the company improve revenues to Rs179.2 billion. It earned Rs12.8 billion during the year, which was 152% higher than last year.