Indus Motors has raised its vehicle prices up to Rs307,000 due to constant depreciation of the rupee against the US dollar.
CEO of Toyota Indus Motors Ali Asghar Jamali said that other players have already increased the prices but he waited for a while for the improvement in the situation. He also said that new Corolla car prices in Pakistan would not apply to the already booked orders.
For the new orders, the company also increased the warranty. A notice issued by the company stated, “IMC is pleased to extend its two-year warranty or 50,000 kilometres to three-year warranty or 100,000 kilometres for all CKD and CBU products. This warranty is applicable to all new orders effective from April 20, 2019.”
Corolla Fortuner prices increase by 10%:
Altis 1.6 became costlier by Rs100,000, going up to Rs2.67 million. Meanwhile, Prices of Corolla XLI and GLI variants went up by Rs65,000 to Rs2.11 million and Rs2.36 million respectively.
The maximum increase in this model was made in the price of Grande CVT, which jumped from Rs3.30 million to Rs3.41 million.
Another IMV variant, Revo G MT, became expensive by Rs150,000 to a new tag of Rs5.01 million.
“This is the third time in the current year when the company has increased prices,” said All Pakistan Motor Dealers Association Chairman HM Shahzad.
“With the speed at which dollar has soared, the vehicle prices should be much higher,” said the CEO. “Nobody can work on loss.”
“Prices are still lower compared to the rupee devaluation just because of localisation,” said Jamali. However, “we have to pass on the cost to customers as most of the raw material is imported, therefore, sometimes even localisation cannot prevent the price hike,” he elaborated. According to an industry expert, overall orders in the auto sector have gone down significantly.
|Variant||Old Prices||New Prices||Difference|
|Altis 1.8 CVT||3,095,000||3,205,000||109,600|
|Altis 1.8 MT||2,957,9000||3,069,000||111,100|
|Grande CVT SR||3,298,000||3,409,000||110,100|
|Grande MT SR||3,15,0400||3,260,000||109,600|
IMV Car Prices in Pakistan
|Variants||Old Prices||New Prices||Difference|
|Revo V AT||5,409,000||5,559,000||1,50,000|
|Revo G MT||4,859,000||5,009,000||1,50,000|
|Revo G AT||5,089,000||5,239,000||1,50,000|
|IMV III DC STD||4,589,000||4,719,000||1,30,000|
|IMV I 4×4||4,199,000||4,329,000||1,30,000|
|IMV I 4×2 U/S||3,024,000||3,104,000||80,000|
|IMV I 4×2 STD||2,994,000||3,074,000||80,000|
|IMV I 4×2 D/L||2,739,000||2,819,000||80,000|
|Fortuner 4×4 Diesel||7,511,900||7,819,000||3,07,100|
|Fortuner $x2 Petrol Hi||7,038,900||7,299,000||260,100|