Toyota Announces Another Price Hike Within 2 Months

The domino effect of car price hikes has officially begun. After Pak Suzuki revised the prices of its vehicles, the Toyota Indus Motor Company (IMC) followed suit.

Like Pak Suzuki, the price hikes of Toyota IMC’s vehicles are also due to the revised Federal Excise Duty (FED) and Sales Tax rates on locally assembled vehicles.

Effectively immediately, the new prices are:

Variants Old Price (Rs.) Revised Price (Rs.) Increase (Rs.)
Toyota Yaris
1.3 Gli M/T 2,549,000 2,612,000 63,000
1.3 Gli CVT 2,749,000 2,817,000 68,000
1.3 ATIV M/T 2,679,000 2,745,000 66,000
1.3 ATIV CVT 2,849,000 2,919,000 70,000
1.5 ATIV X M/T 2,899,000 2,970,000 71,000
1.5 ATIV X CVT 3,099,000 3,175,000 76,000
Toyota Corolla
Altis 1.6 M/T 3,299,000 3,380,000 81,000
Altis 1.6 A/T 3,449,000 3,534,000 85,000
Altis SE 1.6 A/T 3,799,000 3,892,000 93,000
Altis 1.8 CVT 3,779,000 3,872,000 93,000
Altis 1.8 Grande CVT 4,079,000 4,179,000 100,000
Altis 1.8 Grande CVT Black Interior 4,099,000 4,199,000 100,000
Toyota Hilux
Revo G 2.8 M/T 6,759,000 6,947,000 158,000
Revo G 2.8 A/T 7,109,000 7,306,000 167,000
Revo V 2.8 A/T 7,779,000 8,030,000 181,000
Revo Rocco 8,279,000 8,472,000 193,000
Toyota Fortuner
Fortuner G A/T 8,149,000 8,569,000 390,000
Fortuner V A/T 9,399,000 9,941,000 452,000
Fortuner Sigma 4 A/T 9,849,000 10,392,000 473,000
Fortuner Legender 10,349,000 10,842,000 493,000

Toyota IMC had enacted its previous price hike in November 2021, citing significant devaluation of the Pakistani Rupee against the US Dollar, increased freight charges, and inflated raw material costs as the factors behind it.

Based on the Ministry of Finance’s recommendation in December 2021 to raise the tax rates on locally assembled cars, CEO of Toyota IMC, Ali Asghar Jamali, remarked that the car industry requires a stable policy to continue progressing steadily.

More car companies are expected to increase prices as the mini-budget continues its assault on both the industry and buyers.



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