Toyota buyers are surprised by a price hike of up to Rs1.2 million. KARACHI: Indus Motor Company (IMC) announced a hefty price increase of up to Rs1.257 million on Tuesday, with the higher retail rates applicable on all new orders placed beginning March 23.
Toyota buyers are surprised by a price hike of up to Rs1.2 million
The firm ascribed the current rise to the unexpected depreciation of the Pakistani rupee, a large spike in commodity and freight prices, which drove up the rates of completely-knocked-down kits and local component costs, as well as an increase in pricing to the company’s vendors.
Other assemblers are likely to follow suit in the near future.
IMC stated in a circular to its authorised dealers that the situation has made it exceedingly difficult for the firm to maintain existing retail selling prices, forcing it to pass some effect on to the market.
Toyota Fortuner Legender prices have risen to Rs12.099m from Rs10.842m, while Fortuner LO Petrol, Fortuner High Petrol, and Fortuner Diesel prices have risen to Rs9.499m, Rs10.949m, and Rs11.489m, respectively, up by Rs930,000, Rs1.008m, and Rs1.097m.
Toyota Corolla models 1.6MT, 1.6AT, and 1.6ATUSPEC now have new pricing. The prices of the 1.8CVT, 1.8CVT SR, and 1.8CVT SR (Black) are Rs3.749m, Rs3.929m, Rs4.309m, Rs4.299m, 4.649m, and Rs4.689m, respectively, representing a jump from Rs369,000 to Rs490,000.
Toyota Yaris 1.3MT, 1.3CVT, 1.3 HMT, 1.3 HCVT, 1.5MT, and 1.5CVT prices have increased by Rs287,000 to Rs324,000, resulting in new prices of Rs2,899m, Rs3.109m, Rs3.059m, Rs3.229m, Rs3.289m, and Rs3.499m, respectively.
Revo GMT, GAT, VAT, and VAT ROCCO now have new rates of Rs7.659m, Rs8.029m, Rs8.839m, and Rs9.319m, respectively, an increase of Rs712,000, Rs723,000, Rs807,000, and Rs847,000.
According to the corporation, any outstanding orders in the system as of March 22 with promised delivery months to June 2022 and full payment received via courier service on or before April 10, 2022, will be invoiced at the current retail sales price.
In the case of Corollas and IMVs, for payments received by dealerships with financial instruments dated March 10, 2022, or earlier, orders will be opened in the system when order intake restarts, booked and submitted through courier service by March 30, 2022.
The following terms and conditions would apply: first, full retail price payments (instrument date on or before March 10) received by dealerships regardless of the committed delivery month, will be invoiced at current retail sales price on a special approval; second, partial retail price payments (instrument date on or before March 10) received by dealerships with planned completion month July 2022 onwards, will be invoiced at current retail sales price on a special approval; and third, partial retail price payments (instrument date on or before March 10) received by dealerships
