In a recent corporate briefing session for fiscal year 2023, Indus Motor Company Limited (INDU) has confirmed its plans to launch hybrid vehicles in early 2024. However, the company has chosen not to disclose pricing details at this time, citing concerns about the unpredictable exchange rate situation.
The decision to withhold pricing information was made due to the ongoing economic instability, especially the daily fluctuations in the US dollar exchange rate, which has made it challenging to provide accurate pricing estimates.
Industry analysts from Topline Securities have projected that INDU aims to sell between 28,000 and 30,000 units of the hybrid vehicle in fiscal year 2024. This projection marks a slight decrease compared to the 31,602 units sold in the previous fiscal year, FY23.
During the fourth quarter of FY23, INDU reported a one-time gain linked to exchange rate fluctuations, leading to unexpectedly higher gross margins.
Additionally, INDU’s management disclosed that the localization rate, in terms of value, for models like Yaris and Corolla, has reached 60 percent, taking taxes and duties into account.
Indus Motor currently operates with a production capacity ranging from 76,000 to 80,000 units on a double-shift basis, with the flexibility to increase production to 90,000 units through overtime.
 has confirmed its plans to launch hybrid vehicles in early 2024.){kind=link}