Due to the recent deprecation of rupee and the increase in inflation, Toyota Indus Motor Company (IMC) has increased the prices of its Corolla and IMV vehicles. The price has been increased for Corolla XLI, GLI, Altis Grande, Hilux, and Fortuner variants.
According to the notification issued by the company, the new prices will go into effect from 20th April 2019 but the people who have already booked their models will not be impacted.
The hike in prices ranges from Rs. 65,000 up to Rs. 307,100.
Given below are the revised RS for Toyota Corolla, IMV 1, IMV 3 & IMV 4 variants:
|Variant||Current Prices||New Prices||Difference|
|Altis 1.8 MT||2,957,9000||3,069,000||111,100|
|Altis 1.8 CVT||3,095,000||3,205,000||109,600|
|Grande MT SR||3,15,0400||3,260,000||109,600|
|Grande CVT SR||3,298,000||3,409,000||110,100|
|Variants||Current Prices||News Prices||Difference|
|Fortuner 4×4 Diesel||7,511,900||7,819,000||3,07,100|
|Fortuner $x2 Petrol Hi||7,038,900||7,299,000||260,100|
|IMV I 4×2 D/L||2,739,000||2,819,000||80,000|
|IMV I 4×2 STD||2,994,000||3,074,000||80,000|
|IMV I 4×2 U/S||3,024,0000||3,104,000||80,000|
|IMV I 4×4||4,199,000||4,329,000||1,30,000|
|IMV III DC STD||4,589,000||4,719,000||1,30,000|
|Revo G MT||4,859,000||5,009,000||1,50,000|
|Revo G AT||5,089,000||5,239,000||1,50,000|
|Revo V AT||5,409,000||5,559,000||1,50,000|
The company will charge different prices for income tax filers and non-filers and even the freight charges will vary for different cities.
IMC has increased the warranty of all CKD and CBU products to 3-years or 100,000 km from 2-years or 50,000 km.
Customers can now extend the warranty by 1-year or 25,000km on locally manufactured Corolla variants by paying PKR 9,550 and for Fortuner owners, by paying Rs.38,000 (1.3L) or Rs.40,000 (1.6L and 1.8L) to have it extended by 1-year or 20,000 km.
The last revision in prices by the company was last month when it increased the prices of Toyota Corolla and its variants, Toyota Hilux and its variants and various other Toyota CBUs.
One of the reasons for the increase was the 10% FED imposed by the government on locally manufactured cars with an engine displacement of 1700cc and above due to the Finance Supplementary (Second Amendment) Bill 2019.
Although the government has announced its intentions to remove the FED, the indication made by Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, Textile and Industries, is yet to be completed.
There was another hike in Toyota car prices in November 2018.