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Indus Motor Company increases car prices across entire lineup

  • Says due to economic uncertainties and inflation in raw material cost, the vendor cost of production has significantly increased
Published January 13, 2023
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Facing depressed sales, Indus Motor Company, the assembler of Toyota-brand vehicles in Pakistan, notified a hike in car prices across its entire lineup with the increase in the range of Rs280,000-Rs1,210,000.

New RSP (retail selling price) Ex-factory will be effective on all new orders booked after January 12, 2023.

The price of Corolla 1.6 CVT has been hiked from Rs4,979,000 to Rs5,369,000, an increase of Rs390,000.
Corolla 1.6 CVT upspec is now priced at Rs5,909,000 after an upward price revision of Rs430,000.

The price of Hilux Revo V AT has been jacked up by Rs830,000 to Rs11,429,000. The cost of Revo V AT Rocco has risen from Rs11,179,000 to Rs12,049,000, a surge of Rs870,000.

The biggest increase was seen in the prices of the Fortuner range.

Fortuner Diesel will now be available at Rs15,099,000 after an increase of Rs1,130,000. Meanwhile, Fortuner Diesel Legender has witnessed a price hike of Rs1,210,000, and will now be available at Rs15,909,000.

Toyota Yaris

Coming to the Yaris range, the Yaris 1.3 MT has seen a price hike of Rs280,000, and is up from Rs3,539,000 to Rs3,819,000. Yaris 1.5 CVT's price has been jacked up by Rs350,000, and it would be now available at Rs4,609,000.

Indus Motor Company increases prices of some Toyota vehicles

A notification to dealers said the reasons for the price increase are higher costs in utilities and overheads.

“As you are aware, due to economic uncertainties and inflation in raw material cost, the vendor cost of production has significantly increased,” IMC stated in the notice.

“In addition, the volatile situation of forex, increase in utilities and overheads has also impacted the cost of manufacturing for IMC. Thus, this situation has made it extremely difficult for IMC to hold the current retail selling prices and therefore, we are compelled to pass on some impact to the market,” it added.

IMC registers huge decline in sales, profits in Q1 FY2023

Comments

Comments are closed.

Muhammad Kashif Jan 13, 2023 01:20pm
The Indus motor is absolutely aware of the fact that in Pakistan the sale of automobiles are falling for certain reasons. But surprisingly by increasing prices the said company will ACCELERATE the falling of auto sales.
thumb_up Recommended (0)
Maqbool Jan 13, 2023 01:26pm
Are there no government controls? , a free forall price increases are allowed to this special sector as usual
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Abbasy Jan 13, 2023 03:27pm
A big strategic blunder. Cost leadership would be the strategy in these circumstances rather than resorting to price increase on one pretext to another. Competitors have gained substantial ground in this price gap. Indus Motors future seems bleak due to no innovation, differentiation & catering now only a niche market with this expensive pricing. Toyota Japan being the parent company should look into the affairs of IMC & my recommendation is to wholly acquire it aggressively to maintain international standard, different variants & reasonable pricing.
thumb_up Recommended (0)
Amed Jan 13, 2023 04:27pm
People should blame themselves for this rip-off. If they continue to burn their hard-earned money on such sub-standard cars, then such scams will continue.
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Mumtaz Ahmed Jan 13, 2023 05:11pm
I sold my Sigma 4 Diesel Fortuner in January 2021 & in place of it bought a Petrol driven Kia Sorento. Not only I saved PKR 2 million in price differential, the kind of ride I am enjoying is remarkable because of superior seats, better suspension & the comfort of getting in & out of the vehicle. Both are 7 seater officially, but Kia’s 3rd seat can accommodate 3, where as Fortuner had 2 jumper seats only in the trunk. For a bigger family, definitely Sorento is better. An excellent vehicle for city drive. I had an option of 4X4 in Sorento, I didn’t opt for it as price was higher & even more importantly, in my Fortuner when I drove it for 2 years, I never used 4x4, never felt the need, even when we did some kind of Off-Road driving in the outskirts of Chitral. Do not understand why should any one be ready to pay around or more than PKR 15 Million for a vehicle like Fortuner ? Only because it has become a fad, because all the senior government officials are given this vehicle & / or because we have to follow the rat race ? I suggest, stop purchasing all luxury vehicles, for 2-3 years at least or till the time we are out of economic turmoil ! At least all public sector buying should officially be banned !
thumb_up Recommended (0)
Mumtaz Ahmed Jan 13, 2023 05:14pm
I sold my Sigma 4 Diesel Fortuner in January 2021 & in place of it bought a Petrol driven Kia Sorento. Not only I saved PKR 2 million in price differential, the kind of ride I am enjoying is remarkable because of superior seats, better suspension & the comfort of getting in & out of the vehicle. Both are 7 seater officially, but Kia’s 3rd seat can accommodate 3, where as Fortuner had 2 jumper seats only in the trunk. For a bigger family, definitely Sorento is better. An excellent vehicle for city drive. I had an option of 4X4 in Sorento, I didn’t opt for it as price was higher & even more importantly, in my Fortuner when I drove it for 2 years, I never used 4x4, never felt the need, even when we did some kind of Off-Road driving in the outskirts of Chitral. Do not understand why should any one be ready to pay around or more than PKR 15 Million for a vehicle like Fortuner ? Only because it has become a fad, because all the senior government officials are given this vehicle & / or because we have to follow the rat race ? I suggest, stop purchasing all luxury vehicles, for 2-3 years at least or till the time we are out of economic turmoil ! At least all public sector buying should officially be banned !
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Wasif Jan 14, 2023 09:52pm
This news is incorrect and needs a rebuttal. I booked my vehicle in November and the vehicle delivery month is February. This news states, ‘New RSP (retail selling price) Ex-factory will be effective on all new orders booked after January 12, 2023’. Whereas, I received the following message from dealership; Respected sir It is being informed you that balance payment against booking order No-****315, is pending, so you are requested to kindly make pay order Rs. 10,531,500/- for Tax filer in the favor of "Indus Motor Company Limited A/c **** *** ***** *****" Kindly provide balance payment ASAP NOTE, PRICE AND SPECIFICATION WILL BE FINAL AT THE TIME OF DELIVERY Regards:- Muhammad Faheem Toyota Islamabad Motors
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Rehan Khan Jan 15, 2023 11:33am
Since govt is the largest buyer of their useless for flat-land-of-Pakistan 4x4s and expenxive vehicles, they sure know how to tap into the tax payers' money. It would be more economically savvy that we import smaller vehicles from India via Rupee or barter system. Their govt officials use smaller cars and we should be doing that.
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Shahid Jan 16, 2023 09:43am
Dont worry people of pakistan and govt officers are richi rich and wi keep buying all pakistan.made cars vs prices increase bcoz haraam ka maal bohat hay logoun and sarkari job holders k pas.sirf pakistan ki govt kay treasury may paisay nahi.shame on all leadership tenures from.1947 till now
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