Toyota Indus Motor Company (IMC), one of the country’s leading car manufacturers, has announced a price hike of up to Rs. 1.2 million for most of its vehicles, including Corolla, Yaris, Revo, and Fortuner.
The company cited rising costs of raw materials, increase in vendor cost of production, economic uncertainty, and extremely unstable exchange rate, as the main reasons for the increase.
In its recent notification, Toyota IMC noted that it was extremely challenging for them to retain older prices, and hence, it has been forced to announce a price hike. This move by Toyota Indus Motor Company (IMC) is not an isolated one, as many car manufacturers in the country are currently facing similar challenges.
The below-mentioned price increase will be effective on all new orders after 12 January 2023:
| Variant | Current RSP Ex-Factory | New RSP Ex-Factory | Difference |
| Yaris 1.3 M/T | Rs. 3,539,000 | Rs. 3,819,000 | Rs. 280,000 |
| Yaris 1.3 CVT | Rs. 3,769,000 | Rs. 4,069,000 | Rs. 300,000 |
| Yaris 1.3 H M/T | Rs. 3,729,000 | Rs. 4,039,000 | Rs. 310,000 |
| Yaris 1.3 H CVT | Rs. 3,929,000 | Rs. 4,239,000 | Rs. 310,000 |
| Yaris 1.5 M/T | Rs. 4,009,000 | Rs. 4,339,000 | Rs. 330,000 |
| Yaris 1.5 CVT | Rs. 4,259,000 | Rs. 4,609,000 | Rs. 350,000 |
| Corolla 1.6 M/T | Rs. 4,569,000 | Rs. 4,939,000 | Rs. 370,000 |
| Corolla 1.6 CVT | Rs. 4,979,000 | Rs. 5,369,000 | Rs. 390,000 |
| Corolla 1.6 CVT Upspec | Rs. 5,479,000 | Rs. 5,909,000 | Rs. 430,000 |
| Corolla 1.8 CVT SR | Rs. 5,709,000 | Rs. 6,169,000 | Rs. 460,000 |
| Corolla 1.8 CVT SRT BLK | Rs. 5,749,000 | Rs. 6,209,000 | Rs. 460,000 |
| Revo V A/T | Rs. 10,599,000 | Rs. 11,429,000 | Rs. 830,000 |
| Revo V A/T Rocco | Rs. 11,179,000 | Rs. 12,049,000 | Rs. 870,000 |
| Fortuner LO Petrol | Rs. 11,579,000 | Rs. 12,509,000 | Rs. 930,000 |
| Fortuner High Petrol | Rs. 13,259,000 | Rs. 14,319,000 | Rs. 1,060,000 |
| Fortuner Diesel | Rs. 13,969,000 | Rs. 15,099,000 | Rs. 1,130,000 |
| Fortuner Diesel Legender | Rs. 14,699,000 | Rs. 15,909,000 | Rs. 1,210,000 |
In conclusion, the recent price hike by Toyota Indus Motor Company (IMC) may be disappointing for some, but it is important to keep in mind that the company is facing unique challenges in the current economic climate. Despite the increase, Toyota cars remain a solid investment and a popular choice for many car buyers in the country.
