Rupee devaluation: Toyota increases cars' prices in Pakistan

Indus Motor Company (IMC), the manufacturers of Toyota cars, has increased prices of its vehicles by up to Rs175,000 to completely pass on to consumers the rise in cost of production resulting from rupee depreciation.

IMC, which hiked car prices four times in 2018, has again enhanced prices significantly following the recent round of rupee weakness, which made imports expensive. It made the price revision in the range of Rs75,000 to Rs175,000 at the beginning of the new year.

In October 2018, the company had last raised prices in the range of Rs50,000-175,000 for November and December deliveries and Rs100,000-350,000 for deliveries from January 2019 onwards.

Corolla XLI M/T will now be available at a price of Rs2.05 million after an upward revision of Rs50,000. Corolla XLI A/T will cost Rs2.13 million after a hike of Rs50,000.

Corolla GLI M/T could be bought for Rs2.31 million after a price hike of Rs75,000. Corolla GLI M/T special edition will be available at Rs2.38 million after a price hike of Rs57,000. Corolla GLI A/T will cost Rs2.38 million after a price rise of Rs57,000.

The company added Rs100,000 to prices of its Corolla Altis series, which would now start from Rs2.58 million.

Corolla Altis M/T will now be priced at Rs2.7 million and Corolla Altis A/T CVT will cost Rs2.82 million.

IMC increased prices of Corolla Grande MT-SR and Corolla Grande AT-SR CVT models by Rs100,000 each and now they will cost Rs2.87 million and Rs2.9 million respectively.

Hilux 4×2 S/C deckless and Hilux 4×2 S/C STD variants will be available at Rs2.68 million after an upward revision of Rs120,000 on each model. Hilux 4×2 Single Cabin STD can be purchased for Rs2.93 million after an increase of Rs125,000.

Hilux 4×2 S/C UPSPEC will now cost Rs2.96 million after a price enhancement of Rs125,000.

Hilux 4×4 S/C STD will be sold for Rs4.17 million after an increase of Rs150,000. Customers will have to pay a withholding tax (WHT) of Rs150,000 on each of these variants.

The company enhanced the price of Hilux Revo 4×4 D/C STD E MT double cabin variant by Rs150,000 to Rs4.55 million. It also enhanced the price of Hilux Revo G MT by Rs150,000 to Rs4.86 million, Hilux Revo G AT by Rs150,000 to Rs5.09 million and Hilux Revo V AT by Rs125,000 to Rs5.40 million. Consumers will have to pay an additional Rs200,000 in WHT.

The company raised the price of Fortuner 4×2 HI Petrol by Rs150,000 to Rs6.41 million and Fortuner 4×2 Diesel by Rs175,000 to Rs6.81 million. Customers will have to pay an additional Rs200,000 in WHT on both variants.