Toyota Increases Prices for its Corolla Cars by up to Rs. 65,000

Indus Motor Company (IMC) has made a fresh hike on the prices of Toyota Corolla from Rs. 20,000 to Rs. 65,000 depending on models, mainly due to additional new features that are aimed in new models of Toyota cars in Pakistan.

According to details, new features will be introduced in Toyota vehicles starting May 1st, 2016.

These new features, along with increased prices, will also be available to those customers who have already booked their cars but are scheduled to get cars after May 1st, 2016.

Corolla is the most popular brand of cars in Pakistan, which has witnessed a tremendous jump in sales during past two years.

IMC increased prices of Corolla cars just last year in December from Rs. 5,000 to Rs. 30,000 to pass on the impact of the increase in custom duty on CKD and imported parts by 1% by the government. However, increment in prices then did not impact the sales of the company.

According to Pakistan Automotive Manufacturers Association (PAMA), Toyota sold a total of 38,069 units of Corolla variants in Pakistan from July 2015 to February 2016 only, up from 31,042 units that it sold during 2014-15 fiscal year.

The sales number of Corolla is the highest among any other brand of the local automotive industry in Pakistan. In the category of 1,300 and above cc, Corolla was followed by Honda Cars (City and Civic) that sold 15,793 units during July 2015 to Feb 2016.

Suzuki Mehran’s sales were second highest in the industry. It sold 25,469 units during July 2015 to February 2016.

Launched in July 2014, the 11th Generation Corolla has garnered critical acclaim, with customers greatly appreciating its superior styling and performance features. With the current addition, the Corolla Sedan is set to appeal to an even wider range of customers who are status and performance conscious.

According to official statement, IMC has upgraded functional and aesthetic aspects of the Toyota Range of Sedans in order to further enhance the desirability and appeal of the Toyota Corolla.

Commenting on the specification improvement of the Corolla line Up, Parvez Ghias, CEO IMC said, ‘IMC has always strived for delighting customers with the best in class mobility solutions. Through customer feedback studies and exhaustive product planning, we have introduced various new features that provide enhanced safety, performance and lifestyle features. Beyond making cars that offer durability and reliability, we strive to anticipate evolving customer demands and introduce features that cater to a diverse range of customer tastes and preferences.’

In the eight months, overall cars sales of different companies and variants in Pakistan stood at 121,934 units as compared to 88,538 units recorded during same period of last financial year, showing a growth of 37.7 percent in car sales.