IMC Announces a Massive Increase in Toyota Car Prices

Indus Motor Company (IMC) the assemblers of Toyota cars in Pakistan has announced a massive increase in prices for its locally assembled lineup. Becoming the first assembler to announce a price increase in 2023, IMC has pushed the prices by up to Rs 12.10 lac citing economic uncertainties, inflation in raw material cost, and significantly increased vendor cost of production.

According to a company notification sent to its dealers, IMC says:

“As you are aware, due to economic uncertainties and inflation in raw material cost, the vendor cost of production has significantly increased. In addition, the volatile situation of forex, increase in utilities, and overheads have also impacted the cost of manufacturing for IMC. Thus, this situation has made it extremely difficult for IMC to hold the current retail selling prices, and therefore, we are compelled to pass on some impact to the market.”

In terms of price increase, the Yaris range has seen a hike of up to Rs 350,000. After which the base 1.3L MT variant now cost PKR 38.19 lac whereas the flagship 1.5L AtivX CVT is now available for PKR 46.09 lac. For Toyota Corolla, the price increase of up to Rs 460,000 has pushed the prices of Altis 1.6L MT to PKR 49.39 lac while the 1.8L Altis Grande X CVT (black interior) now comes available for PKR 62.09 lac.

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In IMVs, the Hilux Revo has seen a price hike of up to Rs 870,000 after which the flagship Revo Rocco is now available for PKR 1 crore 20.49 lac. The biggest increase comes in the prices of the Fortuner range, which after an increase of up to Rs 12.1 lac has taken the prices of Sigm4 Diesel to PKR 1 crore 50.99 lac while the Fortuner Legender will now be available at PKR 1 crore 59.09 lac.

The revised ex-factory prices will be effective on all new orders booked after 12th January 2023. Following IMC, other assemblers are also expected to announce their price revisions soon.

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