As unusual as it might sound, Indus Motor Company (IMC) the assemblers of Toyota cars in Pakistan has slashed the prices of its local assembled variants in wake of the appreciating Rupee value against the US Dollar.
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The PKR has so far recovered by nearly 16% after reaching a record low against the greenback. The recent reduction in prices of Toyota cars ranges up to Rs 1.1 million, effective from the 15th of August 2022. The last price increase was announced on 29th July when an increase of up to Rs 3.16 million was implemented on local assembled Toyota vehicles. The updated prices (after reduction) are as under:
The prices of Yaris variants have been slashed from Rs 260,000 to up to Rs 310,000 after which the base 1.3L GLi MT variant now comes available at PKR 35.39 lac whereas the top-spec 1.5L Ativ X CVT is available at PKR 42.59 lac. The price of Corolla variants has witnessed a reduction of Rs 330,000 to up to 440,000 after which the 1.6L Altis X MT is now priced at PKR 45.69 lac whereas the flagship Altis X Grande CVT (black interior) is available for PKR 57.49 lac.
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As for IMVs, the price of Hilux E has been slashed by Rs 1,160,000 after which the pickup truck is now available for PKR 78.79 lac. The price of Hilux Revo variants have been reduced by up to Rs 820,000, which renders the price of base Revo G MT variant at PKR 91.69 lac whereas the flagship Revo Rocco variant now comes available for PKR 1 crore 11.79 lac. Lastly the price of Fortuner has been slashed by up to Rs 1,140,000 after which the base G variant is available for PKR 1 crore 15.79 lac while the flagship Legender variant now comes available for PKR 1 crore 46.99 lac.
Although the price reduction seems insufficient compared to the increase made less than a month ago, still its a welcome gesture by the company & has set a good precedent. We will now have to wait to see when other assemblers announce their price revisions.
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