It was being speculated since the announcement of the new budget and our worst fears have now been realized. Toyota Indus Motor Company (IMC) has finally announced outrageous price increments on multiple vehicles.
The increments start at Rs. 380,000 and go as high as Rs. 4.9 million per car, which is completely absurd considering that the dollar hasn’t really changed that much in value off late.
It bears mentioning, however, that most vehicles that received a price hike had lower sales. The ones that are supposedly bought more, namely, the Corolla, the Yaris, and the Fortuner, are yet to receive a price bump. Still, the price increase is quite high as you can see in the table given below:
|Car||Variant||Old Price (PKR)||Revised Price (PKR)||Increase (PKR)|
|Coaster||29 Seater High-Roof||12,800,000||13,999,000||1,199,000|
|Avanza||M/T Petrol Powered||5,220,000||5,790,000||570,000|
|Prado||3.0 Liter Turbo-Diesel M/T||26,000,000||27,930,000||1,930,000|
|3.0 Liter Turbo-Diesel A/T||36,700,000||39,270,000||2,570,000|
|4.0 Liter V6 Petrol A/T||38,400,000||41,410,000||3,010,000|
|Land Cruiser||GX 4.5 Liter V8 M/T (Diesel)||38,900,000||41,690,000||2,790,000|
|VX 4.5 Liter V8 A/T(Diesel)||46,500,000||51,370,000||4,870,000|
|VX 4.6 Liter V8 A/T (Petrol)||48,000,000||52,650,000||4,650,000|
|Hiace Deluxe||Hiace Commuter Deluxe Std Roof 2.8 Liter||6,199,000||6,890,000||691,000|
|Hiace Commuter Deluxe High Roof 2.8L||6,999,000||7,850,000||851,000|
|Hiace Tourer Deluxe High Roof AT 2.8L||7,999,000||8,950,000||951,000|
|Hiace||Standard Roof (Diesel)||5,600,000||6,010,000||410,000|
|Standard Roof Dual AC (Diesel)||6,070,000||6,480,000||410,000|
|High Roof (Diesel)||6,870,000||7,350,000||480,000|
|Standard Roof (Petrol)||5,270,000||5,690,000||420,000|
|Standard Roof Dual AC (Petrol)||5,680,000||6,060,000||380,000|
|Mid Roof Dual AC (Petrol)||6,190,000||6,620,000||430,000|
The last price hike was announced by Toyota a few weeks ago for the new Hilux Revolution. If the ongoing trend of price hikes is any indication, we’re in for more price increases later this year. It has been a tough year for the auto industry with the stalled production and declined sales, but with such monumental price hikes happening multiple times a year, the fate of the automakers in Pakistan seems quite turbulent.