Toyota Prices mounted to sky

KARACHI: Pakistan’s most popular and well-known brand named as  Indus Motor Company (IMC), the

manufacturer of Toyota vehicles in Pakistan, has increased its prices due to the massive  devaluation of rupees against the dollar that results in more manufacturing cost, a statement said on Wednesday.

The company has stopped taking orders after massive devaluation of Pakistan currency and announced  to conduct a review  to assess the situation .  A rapid currency depreciation  has resulted  more cost on account of freight, raw material, government duties/taxes and imported parts as well as  local parts etc, the representative  said  in a statement.

It is very hard time for IMC  to hold the current retail  selling and we are compelled to increase  the exchange impact  to the market. The company added that it had resumed bookings of cars  heavy vehicles  from Oct 17, 2018.

“Customer who have paid full payment  of October and November will  receive cars as company will  absorb added cost while  those  who have paid partial payment   for October, November and December will have to pay 50 percent  of the added cost  the official said”.

“It said for November to December, Corolla prices had increased in the range of Rs50,000 to Rs100,000 and the prices of Toyota Innovative International Multi-purpose Vehicle (IMV) variants had been raised in the range of Rs125,000 and Rs175,000.


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