Following a major devaluation of the Pakistani rupee against the US dollar, Indus Motor Company (IMC), the manufacturer and supplier of Toyota-brand vehicles in Pakistan, raised the cost of its cars once more in January 2023.
In a notification sent to dealers on Friday, IMC notified an increase in the prices on its vehicles with the hike going as high as Rs1.16 million.
Earlier on January 12, IMC raised car prices across its entire lineup in the range of Rs280,000-Rs1.21 million.
According to the most recent announcement, the new RSP (retail selling price) will be in effect for all new orders placed after January 12, 2023.
Customers who made the full payment before January 11 will receive their cars at the former prices, according to a Toyota-authorized car dealer.
IMC said that the company’s manufacturing costs had been negatively impacted by economic uncertainty and the high fluctuation in the value of the rupee relative to the dollar.
The price of the Corolla 1.6 CVT goes up by Rs380,00, from Rs5.369 million to Rs5.749 million. After a Rs430,000 price increase, the Corolla 1.8 CVT is now available for Rs6.07 million.
Prices in the Fortuner series saw the highest increase. A price increase of Rs1.16 million has been made to Fortuner Diesel Legender, which is currently available for Rs17.07 million.
Toyota Yaris 1.3 MT’s price increased by Rs260,000 as it went from being worth Rs3.819 million to being worth Rs4.079 million.
The cost of the Yaris 1.5 CVT has gone up by Rs320,000, and it is currently available for Rs4.929 million.