Indus Motor Company (IMC) has once again jacked up the prices of Toyota cars in Pakistan citing massive devaluation of the Pak Rupee against the US Dollar, imposition of CVT (Capital Value Tax) by the government and increased raw material & transportation costs as the key reasons behind the latest hike. The new prices will become effective from the 1st of August 2022.
The price of Yaris sedan has seen an increase ranging from Rs 760,000 to up to Rs 910,000 depending on the variant, after which the top-spec Yaris 1.5L AtivX CVT now cost PKR 45.69 lac. The price of Toyota Corolla has seen an increase ranging between Rs 990,000 and Rs 1,290,000 after which the flagship 1.8L Corolla AltisX Grande CVT-SR (black interior) is now available for whopping PKR 61.89 lac.
On the other hand the prices of IMVs including Hilux, Revo and Fortuner have also seen a massive jump. The price of Hilux E has gone up by Rs 1,680,000 to become available for PKR 90.39 lac, while the most expensive Revo Rocco has seen a hike of Rs 2,270,000 after which it is available for PKR 1 crore 19.99 lac. Fortuner has witnessed an increase of Rs 2,530,000 to up to Rs 3,160,000 after which the flagship Legender variant now cost PKR 1 crore 58.39 lac. It is pertinent to mention that bookings of Toyota cars in Pakistan is currently closed and will resume once the govt allows importing the CKD kits.
Other assemblers are expected to announce their revised prices in the month of August. Stay tuned to CarSpiritPK for more updates on the latest round of car price hikes in Pakistan.
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