Indus Motor Company (IMC) the assembler of Toyota cars in Pakistan is offering to deliver Yaris and Corolla sedans within 10 days of booking according to the latest posts on Toyota Pakistan’s official social handles. The offer is valid till 30th September 2023.
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Interestingly IMC was recently observing non-production days (NPD), which was the 6th NPD schedule of the year, due to a lack of CKD parts in hand, and just resumed its plant operations on 3rd August. It will sure be interesting to see how the company will deliver units within 10 days to customers considering the ongoing operational hiccups unless it has a good number of ready (unsold) units at its disposal.
Bear in mind the sales of Yaris & Corolla suffered from a deplorable 67% decline in sales with just 18,838 units (combined) sold in FY23 compared to 56,528 units sold a year earlier in FY22. With skyrocketing prices, unfavorable financing conditions with up to 22% interest rate, and reduced purchasing power of the masses in the toughest of economic times, it’s no surprise for new car sales to nosedive.
But with no buyers around, the hoarders are getting out of the equation perhaps due to which the units are now becoming magically available to be delivered within 10 days, which otherwise used to take several months to get delivered. Still, IMC’s offer is via bank financing (Faysal Bank and Meezan Bank), the monthly rentals of which will fall around a staggering Rs 156,500 per month for Corolla and around Rs 128,000 for Yaris (1.5 Ativ X) against a 30% downpayment and 5-year installment plan as calculated by us in an earlier post.
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With no end to the economic miseries in sight, it’s hard for anyone to predict when car sales will come back to normal. But it is indeed a welcome sign that booked units will finally get delivered within a few days. But with no genuine buyers around, how much benefit local assemblers including IMC will reap from quicker deliveries, only time will tell.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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