Toyota IMC increases Car Prices by up to Rs.500,000 – Research Snipers

Toyota IMC increases Car Prices by up to Rs.500,000

The prices of Toyota Yaris, Corolla and IMV variants have been surged by the Indus Motor Company (IMC). They have been surged in the range of Rs120,000 to Rs500,000 due to rupee depreciation against the US dollar.

A notification sent by the company to its dealers stated, “This sudden rise in the exchange rate has resulted in an increase in cost of completely knocked down (CKD) units and local parts along with a hike in prices to our vendors. 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 a part of this impact on the market.”

The price of Yaris 1.3 GLI MT variant was increased by Rs120,000 to Rs2.469 million while the price of 1.3 GLI CVT variant was increased by Rs130,000 to Rs2.649 million.

Must read: Toyota, Suzuki, Yamaha Shuts Down Production Plants

The price of Yaris model 1.3 ATIV MT and ATIV CVT increased by Rs130,000 each to Rs2.579 million and Rs2.729 million, respectively. Yaris 1.5 ATIV X MT was increased by Rs140,000 to Rs2.789 million and Yaris 1.5 ATIV X CVT surged by Rs150,000 to Rs2.959 million.

IMV variant I 4×2 STD and IMV I 4×2 deckless orices were increased by Rs200,000 each to reach Rs3.749 million and Rs3.499 million respectively.

IMV I 4×4 and IMV III STD prices inflated by Rs250,000 each to Rs5.099 million and Rs5.499 million, respectively.

IMV model Revo GMT, Revo G AT and Revo VAT prices surged by Rs300,000 each to Rs5.899 million, Rs5.199 million and Rs5.549 million, respectively.

Prices of Fortuner Lo and Fortuner High inflated by Rs400,000 each to reach Rs7.699 million and Rs8.399 million, respectively.

The prices of Fortuner Diesel and Fortuner TRD hiked by Rs500,000 each to Rs9.149 million and Rs9.399 respectively.

BMA Capital Investment Analyst Hayat Khan said, “Production activity of the auto sector is halted due to the coronavirus pandemic and the latest round of rupee devaluation against the dollar has added to the woes of the auto sector.”

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