Toyota Announces Massive Increase in Car Prices

Karachi – Indus Motors Company (IMC) had previously hinted at an increase in the prices of its cars. Now that the rupee has devalued even further, the company has announced massive price increases for its Corolla, Fortuner and Hilux vehicles. This is the second time the automaker will increase its car prices after January 2018.
The increase in price will not only hit new customers, but also those who have already booked their cars with the company a few months ago.This announcement was already made by Indus Motors Company’s Chief Executive Officer Ali Asghar Jamali during a media workshop in Muzaffarabad, Azad Kashmir. The prices weren’t announced back then, but the company has now unveiled the new prices.Toyota Cancels More Shady Car Bookings.Pakistani rupee has been depreciating against major currencies. The Rupee has devalued against the US Dollar, Japanese Yen, and Thailand Baht.Ministry for Industries Admits Car Makers are Not Following the Auto Policy 2016-21
New Prices
Given the currency devaluation and price increase in raw materials, car prices were stated to go increase by as much as 5%. Prices for Corolla have increased by about Rs. 100,000 while others have seen a price increase of up to Rs. 375,000.
The new prices for all variants are listed below:

New Prices for Toyota Corolla Variants
Variant Old Price New Price (Rupees)
XLI 1,819,000 1,894,000
GLI MT 1,949,000 2,049,000
GLI MT SE 2,059,000 2,159,000
GLI AT 2,024,000 2,124,000
Altis 1.6 2,199,000 2,274,000
Altis 1.8 MT 2,264,000 2,339,000
Altis 1.8 CVT 2,389,000 2,464,000
Grande MT SR 2,439,000 2,514,000
Grande CVT SR 2,589,000 2,664,000

New Prices for Hilux, Revo & Fortuner Models
Variant Old Price New Price (Rupees)
Hilux Deckless 2,219,000 2,319,000
Hilux 4×2 2,469,000 2,569,000
Hilux 4×2 (up-spec) 2,499,000 2,599,000
Revo G MT 4,124,000 4,374,000
Revo G AT 4,349,000 4,599,000
Revo V AT 4,649,000 4,949,000
Fortuner 4×2 (Petrol) 5,549,000 5,849,000
Fortuner 4×4 5,899,000 6,199,000

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