The crippling inflation has drastically shifted the landscape of Pakistan’s car industry. Prices of small sedans and SUVs, in particular, have shot up significantly and are now considered high-end products.
Toyota Indus Motor Company’s (IMC) lineup only consists of two sedans, an SUV, and a pickup truck. The prices of all of these vehicles have gone up by a whopping 32-37%.
Here’s how much the prices of Toyota cars have increased since January:
| Variants | Price in January 2022 (Rs.) | Price in October 2022 (Rs.) | % Increase |
| Toyota Yaris |
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| 1.3 Gli M/T | 2,612,000 | 3,539,000 | 35% |
| 1.3 Gli CVT | 2,817,000 | 3,769,000 | 34% |
| 1.3 ATIV M/T | 2,745,000 | 3,729,000 | 36% |
| 1.3 ATIV CVT | 2,919,000 | 3,929,000 | 35% |
| 1.5 ATIV X M/T | 2,970,000 | 4,009,000 | 35% |
| 1.5 ATIV X CVT | 3,175,000 | 4,259,000 | 34% |
| Toyota Corolla |
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| Altis 1.6 M/T | 3,380,000 | 4,569,000 | 35% |
| Altis 1.6 A/T | 3,534,000 | 4,789,000 | 35% |
| Altis SE 1.6 A/T | 3,892,000 | 5,279,000 | 36% |
| Altis 1.8 CVT | 3,872,000 | 5,269,000 | 36% |
| Altis 1.8 Grande CVT Beige Interior | 4,179,000 | 5,709,000 | 37% |
| Altis 1.8 Grande CVT Black Interior | 4,199,000 | 5,749,000 | 37% |
| Toyota Hilux |
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| Revo G 2.8 M/T | 6,947,000 | 9,169,000 | 32% |
| Revo G 2.8 A/T | 7,306,000 | 9,609,000 | 32% |
| Revo V 2.8 A/T | 8,032,000 | 10,599,000 | 32% |
| Revo Rocco | 8,472,000 | 11,179,000 | 32% |
| Toyota Fortuner |
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| Fortuner G A/T | 8,569,000 | 11,579,000 | 35% |
| Fortuner V A/T | 9,941,000 | 13,259,000 | 33% |
| Fortuner Sigma 4 A/T | 10,392,000 | 13,969,000 | 34% |
| Fortuner Legender | 10,842,000 | 14,699,000 | 36% |
EDB’s Report
The latest Engineering Development Board (EDB) report suggests that carmakers have increased their product prices by almost 47% in the past nine months.
EDB has rationalized the 47% increase in car prices over the last nine months by highlighting a few pertinent challenges. It said that the local currency depreciated by 31% during the said period. “The adverse parity of the rupee-dollar and hiked duties and taxes on the sector led to an increase in car prices in Pakistan”, EDB stated in the report.
Carmakers have also cited the same reasons for price hikes prior to this report. However, the government continues to bash the auto industry for allegedly exploiting the market.
The government has demanded that the carmakers reduce the prices of their cars following the depreciation of the dollar, while the automakers demand a conducive policy for the decrease in operational costs.
With both parties at odds with each other, the car industry seems to be stuck in purgatory.
The manufacturing car policy is as outdated as the bureaucrats who framed it. Customers do not get the right choice of cars, cars are not readily available, they are expensive. There is hardly any localization. But on one in power corridors seem to care
Vr good
Foolocrats run Pakistan & it’s Auto Industry
Toyota is the best….but not in shape of yaris…😣