Islamabad: In a sudden development, the Indus Motor Company raised the prices of some of its vehicles even after the Pakistani rupee’s comparatively better performance against the US dollar.
The Indus Motor Company is the assembler of Toyota vehicles in Pakistan. It notified price-hike of some of its Corolla variants and the Hilux models with hikes in the range of Rs190,000-Rs700,000.
According to the new price chart, the price of Corolla Altis X Automatic 1.6 has been increased to Rs4,979,000 from Rs4,789,000 with an increase of Rs190,000. Similarly, Corolla Altis X Automatic 1.6 SE is now priced at Rs5,479,000 after an upward price revision of Rs200,000.
Hilux Revo G 2.8 has now been priced at Rs9,839,000. The cost of the Hilux E has risen from Rs8,449,000 to Rs9,069,000 with a surge of Rs620,000.
The biggest increase is in the price of Hilux Revo G Automatic 2.8, which will now be available at Rs10,309,000 after an increase of Rs700,000.
In its letter to the authorised dealers, the IMC said the vendor cost of production has significantly soared due to economic uncertainties and inflation in the raw material cost. In addition, uncertainty in currency fluctuation and increases in utilities and other overheads have also impacted the cost of manufacturing.