As indicated already, Indus Motor Company (IMC) the makers of Toyota Corolla in Pakistan has revised the prices of their products amid depreciating Rupee value against the US Dollar.
The price increase will be implemented in two stages. The prices of vehicles booked between October and December 2018, have been revised from PKR 50,000 to up to PKR 175,000. In the next stage, effective from January 2019 onward, the prices will be further escalated from minimum PKR 100,000 up to PKR 350,000.
The company has announced that due to the decreasing rupee value against the dollar there has been a substantial increase in government duties, C&F and cost of imported components & raw materials. Therefore the company has no choice left but to revise the car prices.
Earlier last week, IMC had suspended bookings on all its vehicles in Pakistan. However the booking of cars will now resume with the announcement of new prices.