KARACHI – Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan, on Tuesday jacked up prices of its all models.
With the third surge in 2023, the company’s most favorite model Corolla now costs nearly Rs7 million.
In a letter, the carmaker flagged economic uncertainties and extremely volatile situation of rupee against US dollar behind the massive surge. “Economic uncertainties and the extreme volatile situation of rupee against dollar has adversely impacted the cost of manufacturing for IMC, saying the situation has made it extremely difficult for the company to hold the current indicative retail selling prices, and therefore, we are compelled to pass on some impact to the market,” it said.
With revised prices, the basic Toyota Yaris increased to Rs4,279,000, top-of-the-line Corolla Altis Grande X CVT-i1.8 Black jacked upto Rs6,979,000 with a surge of 0.33 million.
Revo V AT Rocco saw a price increase of Rs0.659 million and the new price stands at Rs13,559,000, and Fortuner Legender Diesel now costs Rs17,959,000. Effective immediately, here are the new prices:
Last month, the auto giant increased car prices in the range of Rs260,000-1.16 million.
The news comes as the country’s auto sector has been hit hard in wake of the rupee devaluation as well as the problems related to Letters of Credit (LCs) issues.
