Indus Motor Company, the producer of Toyota branded cars in Pakistan, announced to increase prices of its different variants by up to Rs. 175,000.
The company has resumed bookings of cars and high-end vehicles from October 17.
After assessing the situation, IMC has announced revised prices for vehicles. Booking of cars will resume from 17th October, the company said.
Customers who have paid full payment for orders in October and November will get cars on the previous prices as the company will absorb the added cost. However, customers who have made partial payments for October, November, and December will have to bare 50% of the added costs.
The statement said:
“The recent depreciation in Pak Rupee’s value against dollar has resulted in substantial cost increase on account of C&F, Government Duties & Taxes, imported components and raw materials for local parts. It is extremely difficult for IMC to hold the current retail selling prices and therefore we are compelled to pass on a part of this exchange impact to the market.”
Corolla Prices have increased in the range of Rs. 50,000 to Rs.100,000. The prices of IMV variants (Fortuner and Hilux) have been increased in the range of Rs. 125,000 and Rs.175,000 respectively.