Toyota Indus Motor Company (IMC) has increased its vehicle prices. Toyota Corolla and its variants, Toyota Hilux and its variants, Toyota Fortuner and its variants car prices have been increased. The prices have come into effect from 11th March, 2019. The 1,700cc and above engine capacity vehicles prices have been increased by 10%.
Indus Motor CEO Ali Asghar Jamali said, “Yes, we have increased prices.”
Adding, “We have passed on the impact of 10% FED (federal excise duty) the government has imposed through the Finance Supplementary (Second Amendment) Bill 2019 to cars of 1,700cc and above category.
The company notification stated, “It is important to note that FED will be applicable to all new and balance order (including full and partial payment). New RSP (retail selling price) will also be applicable to all government orders pending delivery with the company.”
Corolla Altis M/T 1.8 litres new price is Rs2.96 million. Corolla Altis A/T CVT-I 1.8 litres new price is Rs3.10 million. Corolla Grande MT-SR 1.8 litres new price is Rs3.15 million. Corolla Grande AT CVT-I 1.8 litres new price is Rs3.30 million.
Fortuner 4×4, Sigma 4 2.8 litres diesel engine new price is Rs7.52 million while Fortuner 4×2 2.7 litres petrol engine new price is Rs7.04 million.
Topline Securities in an earlier report said, “Around 24% of Indus sales are in the 1,700cc and above category. However, Indus already has a 1,600cc variant for its top-of-the-line Toyota model, which it will likely market aggressively.”