The automotive market in Pakistan is bracing for significant changes following the government’s announcement of the new fiscal budget for 2024-25. Among the cars affected by these changes is the popular Toyota Corolla Altis, which is anticipated to see a price increase due to newly imposed withholding taxes on car purchases.
New Budget Measures and Their Impact
In an effort to meet the demands of global lenders and boost revenue, the Pakistani government has introduced strict fiscal measures, including heightened taxes on vehicles with engine capacities ranging from under 850 cc to 3000 cc. This decision is expected to raise the cost of new car purchases, including the highly sought-after Toyota Corolla Altis.
Expected Price Increase for Toyota Corolla Altis Variants
Here are the expected prices for various Toyota Corolla Altis models after the implementation of the new taxes:
- Toyota Corolla Altis X Manual 1.6: Rs. 6,044,000
- Toyota Corolla Altis 1.6 X CVT-i: Rs. 6,634,000
- Toyota Corolla Altis X CVT-i 1.8: Rs. 6,964,000
- Toyota Corolla Altis 1.6 X CVT-i Special Edition: Rs. 7,264,000
- Toyota Corolla Altis Grande X CVT-i 1.8 (Beige Interior): Rs. 7,584,000
- Toyota Corolla Altis Grande X CVT-i 1.8 (Black Interior): Rs. 7,624,000
These prices reflect the anticipated increases due to the newly approved taxes.
Why the Toyota Corolla Altis Remains a Top Choice
Despite the rising costs, the Toyota Corolla Altis continues to be a top-selling sedan in Pakistan, known for its:
- Comfort and Stylish Design: The Corolla Altis offers a smooth and comfortable ride, making it a favorite among sedan enthusiasts.
- Dependable Performance: Toyota’s reputation for reliability is well reflected in the Corolla Altis, ensuring peace of mind for car buyers.
- Fuel Efficiency: With fuel efficiency being a crucial factor, the Corolla Altis provides a practical option for both daily commutes and long-distance journeys.
- Resale Value: The strong resale value of the Corolla Altis makes it an attractive choice for those planning to sell their car after a few years.
Conclusion
The expected rise in the Toyota Corolla Altis prices in Pakistan, driven by the new withholding taxes, reflects broader economic measures aimed at increasing government revenue. While these changes pose challenges for prospective car buyers, the Corolla Altis remains a compelling choice due to its numerous advantages, including comfort, reliability, and strong resale value.
