Another wave of price hikes is set to wash over the Pakistani car market, with Toyota IMC likely to make the first move.
During their quarterly performance review, CEO of Toyota Indus Motor Company (IMC) Ali Asghar Jamali stated that amid the mounting pressures of global logistical challenges, increasing freight costs, and depreciating local currency, the price hikes are unavoidable.
When asked exactly when the next price hike will occur, Jamali said:
The company is trying to pend the price hikes at least till June 2022. However, the company is still reviewing this plan and will reach a final decision within a week in this regard.
Jamali claimed that the company seeks to ensure consistency in its pricing by moving towards local production. He stated that the company cares for the needs of its customers, and is making efforts to curtail the price increase.
He added that the overall sales volume of the auto industry is likely to drop by 15 to 20 percent in the next two years due to the increasing prices of cars.
Previous policies have allowed Toyota IMC to invest a significant amount in the development of Hybrid Electric Vehicles (HEVs), but now, there is a need for a better policy to help the auto-sector fend off rising operational costs.
Shame on Indus motors
My bad experience with Toyata Altis 2021 model I bought from Toyota eastern motors, after 1000 KM I found Buble in one Tyre which is Yokoyama, Company instead of excusing and immediately changing that Tyre, they refused that it is unde
r warranty…next buying new car we have to inspect like we buy used car….