Rupee was recently devalued against dollar to decrease trade deficit and increase exports as compared to imports. The authorities are yet to achieve any considerable results in import cuts, on the other hand rates of even locally assembled vehicles have started to surge. Toyota Pakistan, as a result, increased prices of its Corolla line then Suzuki and FAW followed by updating prices of their vehicles too.
However, this time Indus Motors Company has announced to increase rates of several Toyota models other than Corolla.
Reason Behind Price Surge
One reason is clear; the devalued rate of rupee against dollar. There is another reason that could be the driving factor behind sudden increase in prices. Companies’ representatives say government’s issued SRO 1035(1)2017 notification is also one of the reasons behind price increase. Government increased regulatory duties on imported vehicles and automobile parts which has resulted in price increase. Companies are using the justification that most parts are imported even when vehicles are locally assembled, so increase in prices of parts would result in increased vehicle prices.
Porshe, Audi Pakistan and BMW weren’t satisfied with the SRO released by government and took it to court to settle things. Court is yet to announce the verdict on the case however it is expected that it will happen soon.
One thing to mention here that Honda hasn’t announced price updates of its cars yet, it is expected that they will be announcing soon as the company has already increased prices of its motorcycle lineup.
Toyota increased prices of following Completely Built Units (CBUs).
- Hiace Standard Roof (2.5L Diesel KDH-08): From Rs 3,700,000 to Rs 3,850,000.
- Hiace Standard Roof (2.5L Diesel KDH-09): From Rs 4,130,000 to Rs 4,300,000.
- Hiace Standard Roof (2.7L Gasoline TR-01): From Rs 3,429,000 to Rs 3,600,000
- Hiace Standard Roof (2.7L Gasoline TR-A1): From Rs 3,782,000 to Rs 3,950,000
- Hiace High Roof (2.5L Diesel KDH-10): From Rs 4,820,000 to Rs 5,000,000.
- Hiace Mid Roof (2.7L Gasoline TR-A2): From Rs 4,185,000 to Rs 4,350,000.
- Toyota Prius: From 4,600,000 to Rs 4,830,000.
- Land Cruiser 200 Station Wagon GX M/T Diesel: From Rs 22,900,000 to Rs 23,800,000.
- Land Cruiser 200 Station Wagon VX A/T Diesel: From Rs 26,400,000 to Rs 27,600,000.
- Land Cruiser 200 Station Wagon VX A/T Gasoline: From Rs 26,500,000 to Rs 27,700,000.
- Prado TX M/T Diesel 3.0L: From Rs 15,700,000 to Rs 16,300,000.
- Prado VX-L A/T Diesel 3.0L: From Rs 21,900,000 to Rs 22,800,000.
- Prado VX-L A/T Diesel 4.0L: From Rs 22,000,000 to Rs 22,900,000.
- LC70 Soft Top M/T Diesel: From Rs 12,850,000 to Rs 13,300,000.
- LC70 Hard Top M/T Diesel: From Rs 12,850,000 to Rs 13,300,000.
- LC70 Pick Up M/T Diesel: From Rs 9,650,000 to Rs 10,100,000.
- Avanza 1.5L MT: From Rs 3,250,000 to Rs 3,450,000.
Non-CBU Hilux variants’ prices:
- 4×2 SC Deckless: Rs 2,219,000.
- 4×2 SC Standard: Rs 2,469,000.
- 4×2 SC Up Spec: Rs 2,499,000.
- 4×4 SC Standard: Rs 3,549,000.
- 4×4 DC Standard: Rs 3,799,000.
- 4×4 DC Revo G MT: Rs 4,124,000.