The currency depreciation has taken its toll as PKR reached a record low against the US Dollar in the open market. Indus Motor Company (IMC) the assemblers of Toyota cars in Pakistan has announced its second price revision of the year. This comes hardly two weeks after the first price hike of the year was announced on the 12th of January 2023.
IMC has cited the volatile situation of the Pak Rupee against the US Dollar as the core reason behind the increase. According to the company it has adversely impacted the cost of production because of which the company is compelled to pass on the impact to the consumers. The latest price hike that ranges up to Rs 11.6 lac will be effective on all orders & bookings from 12th January 2023 & onward.
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The prices of Toyota Yaris variants have been increased by up to Rs 320,000 after which the base 1.3L MT variant now costs PKR 40.79 lac whereas the flagship 1.5L Ativ X CVT goes as high as PKR 49.29 lac. The prices of Corolla variants have been hiked by up to Rs 440,000 after which the price of 1.6L Altis MT has now reached PKR 52.69 lac while the flagship Altis Grande CVT SR (Black Interior) is now available for PKR 66.49 lac.
Talking about the IMVs, the single cabin (IMV-I) variants after an increase of up to Rs 580,000 are now available between PKR 59.29 lac and PKR 84.59 lac. The IMV-III (Hilux Revo range) with an increase of up to Rs 849,000 now starts from PKR 105.49 lac for the G MT variant all the way up to PKR 128.99 lac for the flagship Revo V AT Rocco variant. Price of IMV-IV (Toyota Fortuner) with an increase of up to Rs 11.6 lac is now available between PKR 134.19 lac and PKR 170.69 lac for the base 2.7L petrol variant and 2.8L Rocco respectively.
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According to IMC, these CKD ex-factory prices are subject to change without notice, and prices prevailing at the time of delivery shall continue to be applicable on all orders. Any change in government levies and taxes (including FED, Sales Tax, CVT, etc.), tariffs, fiscal policies, import policies, etc., will have to be borne by the customers. With IMC having announced its second price hike, other assemblers are likely to follow suit.
A 3d animation professional with over 20 years of industry experience having served in leading organizations & production facilities of Pakistan, an avid car enthusiast and petrolhead with an affection to deliver writings to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com