Tag: Corolla

  • ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    Indus Motor Company (IMC), the manufacturer of Toyota vehicles in Pakistan, has increased prices for its CKD vehicles lineup by upto Rs890,000.

    The price hike has been attributed to “economic uncertainties and volatility of Pakistani rupee”, according to a notice sent to dealer principals, CEOs, and sales heads by the company.

    Below are the new prices:

    Variant Old Price (Rs) New Price (Rs) Increase (Rs)
    Yaris GLI MT 1.3 4,079,000 4,279,000 200,000
    Yaris GLI CVT 1.3 4,339,000 4,549,000 210,000
    Yaris ATIV MT 1.3 4,309,000 4,519,000 210,000
    Yaris ATIV CVT 1.3 4,529,000 4,749,000 220,000
    Yaris ATIV X MT 1.5 4,649,000 4,869,000 220,000
    Yaris ATIV X CVT 1.5 4,929,000 5,169,000 220,000
    Corolla Altis X MT 1.6 5,269,000 5,529,000 260,000
    Corolla Altis 1.6 X CVT-i 5,749,000 6,059,000 310,000
    Corolla Altis 1.6 X CVT-i SE 6,319,000 6,659,000 340,000
    Corolla Altis Grande X CVT-11.8 Beige 6,609,000 6,939,000 330,000
    Corolla Altis Grande X CVT-i1.8 Black 6,649,000 6,979,000 330,000
    Revo V AT 2.8 12,239,000 12,859,000 620,000
    Revo V AT Rocco 12,899,000 13,559,000 659,100
    Fortuner 2.7 G Petrol 13,419,000 14,109,000 690,000
    Fortuner 2.7 V Petrol 15,359,000 16,159,000 800,000
    Fortuner 2.8 Sigma 4 Diesel 16,189,000 17,029,000 840,000
    Fortuner Legender Diesel 17,069,000 17,959,000 890,000

    The notice explained that the current volatile situation of Pakistani rupee against the US dollar has adversely affected the manufacturing cost of IMC, making it extremely difficult for the company to hold the current indicative retail selling prices.

    Hence, the company has decided to pass on some impact to the market. The notification stated that the prices are subject to change and prices prevailing at the time of delivery shall continue to be applicable on all orders.

    Any change in government levies and taxes (including federal excise duty, sales tax, and CVT, etc), tariffs, fiscal policies, import policies, etc., will be borne by the customers. This is the third time since January 2023 that the company has raised the prices of its CKD vehicles lineup.

    The first price hike was introduced on January 12, followed by another price increase later last month. The auto industry has been significantly impacted in recent months, with companies shutting down production plants due to the unavailability of imported raw materials and restrictions imposed by the government to curb imports.

  • Toyota announces second price hike in less than 20 days due to economic uncertainties

    Toyota announces second price hike in less than 20 days due to economic uncertainties

    Toyota Indus Motor Company (IMC) has announced a second price increase for its vehicles in January 2023, following a significant depreciation of the Pakistani rupee against the US dollar.

    According to the company’s statement, they are facing difficulties in maintaining their current prices due to the economic uncertainties and volatility of the PKR.

    “This situation has made it extremely difficult for IMC to hold on to the current retail selling prices, and therefore, we are compelled to pass on some impact to the market,” the company said in a statement.

    Toyota also stated that the price increase is subject to change and that the prices in effect at the time of delivery will continue to apply to all orders.

    “Any change in government levies and taxes (including FED, Sales Tax, CVT, etc.), tariffs, fiscal policies, import policies, etc., will be on the account of the customer,” the automaker said.

    This latest price increase for Toyota vehicles comes at a time when Pakistan’s economy is already struggling. Moreover, experts believe that this won’t be the only price hike, as the continued volatility of the PKR will pressure other manufacturers and importers as well.

    Here are the new prices of all cars:

    Model Old price (Rs) New price (Rs)
    Yaris GLI MT 1.3 3,819,000 4,079,000
    Yaris GLI CVT 1.3 4,069,000 4,339,000
    Yaris ATIV MT 1.3 4,039,000 4,309,000
    Yaris ATIV CVT 1.3 4,239,000 4,529,000
    Yaris ATIV X MT 1.5 4,339,000 4,649,000
    Yaris ATIV X CVT 1.5 4,609,000 4,929,000
    Corolla Altis X MT 1.6 4,939,000 5,269,000
    Corolla Altis 1.6 X CVT-i 5,369,000 5,749,000
    Corolla Altis 1.6 X CVT-i SE 5,909,000 6,319,000
    Corolla Altis Grande X CVT-11.8 Beige 6,169,000 6,609,000
    Corolla Altis Grande X CVT-i1.8 Black 6,209,000 6,649,000
    Revo V AT 2.8 11,429,000 12,239,000
    Revo V AT Rocco 12,049,000 12,899,000
    Fortuner 2.7 G Petrol 12,509,000 13,419,000
    Fortuner 2.7 V Petrol 14,319,000 15,359,000
    Fortuner 2.8 Sigma 4 Diesel 15,099,000 16,189,000
    Fortuner Legender Diesel 15,909,000 17,069,000
  • Toyota Indus Motor Company increases car prices by up to Rs1.2 million

    Toyota Indus Motor Company increases car prices by up to Rs1.2 million

    Toyota Indus Motor Company has announced a significant and unexpected price increase for all of its well-known models, including all variants of the Toyota Yaris, Toyota Corolla Altis, Toyota Hilux Revo, and Toyota Fortuner.

    The first price hike from Toyota for 2023 is already in place and will be applied to all new bookings.

    Following the most recent price increase disclosed by the manufacturer, these are the latest prices for all Toyota cars in Pakistan:

    Toyota Corolla

    Altis X Manual 1.6

    New price: Rs4,939,000

    Old price: Rs4,569,000

    Increase: Rs370,000

    Altis X CVT 1.6

    New price: Rs5,369,000

    Old price: Rs4,979,000

    Increase: Rs390,000

    Altis X 1.6 CVT SE

    New price: Rs5,909,000

    Old price: Rs5,479,000

    Increase: Rs430,000

    Altis Grande X CVT-i 1.8 (Beige room)

    New price: Rs6,169,000

    Old price: Rs5,709,000

    Increase: Rs460,000

    Altis Grande X CVT-i 1.8 (Black Interior)

    New price: Rs6,209,000

    Old price: Rs.5,749,000

    Increase: Rs460,000

    Toyota Yaris

    Yaris GLI MT 1.3

    New price: Rs3,819,000

    Old price: Rs3,539,000

    Increase: Rs280,000

    Yaris GLi CVT 1.3

    New price: Rs4,069,000

    Old price: Rs3,769,000

    Increase: Rs300,000

    Yaris ATIV M/T 1.3

    New price: Rs4,039,000

    Old price: Rs3,729,000

    Increase: Rs310,000

    Yaris ATIV CVT 1.3

    New price: Rs4,239,000

    Old price: Rs3,929,000

    Increase Rs310,000

    Yaris ATIV X MT 1.5

    New price: Rs4,339,000

    Old price: Rs4,009,000

    Increase: Rs330,000

    Yaris ATIV X CVT 1.5

    New price: Rs4,609,000

    Old price: Rs4,259,000

    Increase: Rs350,000

    Toyota Revo

    Hilux Revo V Automatic 2.8

    New price: Rs11,429,000 

    Old price: Rs10,599,000

    Increase: Rs830,000

    Hilux Revo Rocco

    New price: Rs12,049,000

    Old price: Rs11,179,000

    Increase: Rs870,000

    Toyota Fortuner

    Fortuner G A/T

    New price: Rs12,509,000

    Old price: Rs.11,579,000

    Increase: Rs930,000

    Fortuner 2.7 V A/T

    New price: Rs14,319,000

    Old price: Rs13,259,000

    Increase: Rs510,000 

    Fortuner 2.8 Sigma 4

    New price: Rs15,099,000

    Old price: Rs13,969,000

    Increase: Rs1,130,000

    Fortuner Legender

    New price: Rs15,909,000

    Old price: Rs14,699,000

    Increase: Rs1,210,000

    Small hatchbacks and small sedans were already out of the reach of the average person’s budget. The most recent price hike is now anticipated to cause more problems for the country’s already-suffering people. On the other side, Toyota’s most recent announcement could possibly cause a decline in its auto sales.

  • Talibans unveil first Afghani ‘supercar’ with Toyota Corolla Altis 1.8 engine

    Talibans unveil first Afghani ‘supercar’ with Toyota Corolla Altis 1.8 engine

    Even though Afghanistan has recently made headlines for its restrictions on women, its people have now come up with something that is putting it on the map for the right reasons: a homegrown supercar called the Mada 9.

    The five-year design and development process for the sporty-looking Mada 9 prototype sports car was overseen by 30 engineers from the manufacturer ENTOP and Kabul’s Afghanistan Technical Vocational Institute (ATVI).

    The car is mostly always stationary in social media videos that are making the rounds, and ENTOP hasn’t provided any performance information at all, so it’s unclear what it can do on the road.

    Given that the Mada 9 team claims their engine is that of a very underwhelming Toyota Corolla, it is unlikely to compete with brands like Bugatti and McLaren.

    It features the same engine that Toyota employed in the Corolla Altis 1.8 (2005–2011; E140), which is likewise quite well-liked in Pakistan. The stock 1ZZ-FE is capable of producing up to 171 Newton metres (Nm) of torque and 132 horsepower (hp).

    It can produce more than 170 hp thanks to the factory-installed supercharger from Toyota.

    A spokesman for the Taliban Zabihullah Mujahid proudly shared pictures of the car on social media and said that the nation as a whole was “honoured” by its construction.

    The news of the supercar was well received in Afghanistan, and many quickly shared pictures of it on social media, claiming it was evidence of the country’s prowess in science and technology.

    However, many more users brought up the fact that the supercar was introduced as Afghanistan battled one of the worst humanitarian crises in the world and that the Taliban had revoked the rights of the nation’s women to study and work.

  • Toyota IMC increases car prices up to Rs7 lac

    Toyota IMC increases car prices up to Rs7 lac

    Toyota Indus Motor Company has announced a massive price hike for Corolla and Hilux variants.

    The automaker blames rising manufacturing costs and the weakening rupee in a notification it has issued.

    Here are the new prices:

    Vehicle Old Invoice New Price Difference
    Toyota Corolla Altis 1.6 CVT Rs4,789,000 Rs4,979,000 Rs190,000
    Toyota Corolla Altis 1.6 CVT SE Rs5,279,000 Rs5,479,000 Rs200,000
    Toyota Hilux Rs8,449,000 Rs9,069,000 Rs620,000
    Toyota Hilux Revo G 2.8 R9,169,000 Rs9,839,000 Rs670,000
    Toyota Hilux Revo G 2.8 AT Rs9,609,000 Rs10,309,000 Rs700,000
    Toyota Corolla’s new prices

    Since January 2022, Toyota has raised the pricing of all of its vehicles by 32 to 7 per cent. Aspiring Toyota buyers are put into a worse situation by this additional price increase.

    These models are now more competitively priced with their top-tier competitors in their respective categories. Toyota may therefore be using decoy pricing to steer client spending into their more expensive items as one of its goals.

    IMC may also want to prepare customers for potential price increases that are even higher relative to those for the more expensive versions of these particular models.

    Regardless of what Toyota hopes to accomplish with this price rise, the cause is most likely the same: its operational loss of Rs3.3 billion in Q1FY23. From Rs5.42 billion in Q1FY22 to Rs1.29 billion in Q1FY23, Toyota’s sales revenue fell by 76 per cent. Toyota would have ended the quarter with a total loss if it weren’t for its Rs5.16 billion in other income.

  • Toyota to temporarily suspend production in Pakistan

    Toyota to temporarily suspend production in Pakistan

    The impact of the current economic crisis has reportedly forced Toyota Indus Motor Company (IMC) to halt production in Pakistan.

    In accordance with the information, Toyota IMC will reimburse clients who paid deposits for reservations since the business is unable to complete such orders.

    Toyota IMC previously cited restrictions on the State Bank of Pakistan’s (SBP) approval of Letter of Credit (LCs) for the import of Completely Knocked Down (CKD) kits as one of the main causes of production interruption, which also resulted in a backlog of orders.

    Customers who are unable to wait for delayed deliveries will receive their advance payments back from Toyota IMC, and the company plans to disclose this by the end of the month.

    Fans are now speculating as to whether Toyota IMC intends to entirely cease operations in Pakistan in light of the recent situation.

    The issue might only last a short while because Toyota IMC will refund customers for purchases they have already placed, but it won’t cancel orders if the client accepts a delayed delivery of the vehicle and is willing to pay an extra amount to cover the exchange rate changes.

  • Toyota Pakistan announces another massive price hike for all cars

    Toyota Pakistan announces another massive price hike for all cars

    For the second time in less than a month, Toyota Indus Motor Company (IMC) has announced a hefty price increase for all of its locally assembled vehicles. The increase was attributed by the corporation to the ongoing depreciation of the local currency against the US dollar.

    All variants from Toyota have received a hike of more than Rs170,000, which goes up to nearly Rs600,000.

    Toyota Corolla

    The old price of the Corolla Altis X Manual 1.6 was Rs3,749,000, and it will now cost Rs3,909,000 after a rate hike of Rs160,000.

    The Altis X Automatic 1.6 witnessed a price increase of Rs170,000, and now costs Rs4,099,000, up from Rs3,929,000 earlier.

    Altis X Automatic 1.6 Special Edition (SE) was previously priced at Rs4,309,000 and is now priced at Rs4,509,000.

    Altis X CVT-i 1.8, which also got a Rs200,000 hike, bringing the rate to Rs4,499,000, up from Rs4,299,000 previously.

    The price of the Altis Grande X CVT-i 1.8 (Beige Interior) has increased by Rs210,000, bringing the total price to Rs4,859,000, up from Rs4,649,000 previously.

    The Corolla Altis Grande X CVT-i 1.8 (Black Interior) was priced at Rs4,689,000, which now costs Rs4,899,000 after a price increase of Rs210,000.

    Toyota Yaris 

    The present price of the Yaris GLI MT 1.3 is Rs2,899,000, however after a price increase of Rs140,000, the new price is Rs3,039,000.

    Yaris ATIV MT 1.3, saw a price increase of Rs150,000, bringing the total price to Rs3,209,000, up from Rs3,059,000 previously.

    Yaris GLI CVT 1.3, and following the recent rise of Rs140,000, the car’s new price is Rs3,249,000, up from Rs3,109,000.

    Yaris ATIV CVT 1.3, used to cost Rs3,229,000, is now priced at Rs3,449,000 after a price spike of Rs150,000.

    The revised pricing of the Yaris ATIV X MT 1.5 is Rs3,449,000, an increase of Rs160,000. It was last sold for Rs3,289,000.

    The new price of the Toyota Yaris ATIV X CVT 1.5 is Rs3,659,000, increase from the original price of Rs3,499,000.

    Toyota Revo

    The earlier price of the Hilux E was Rs7,059,000, and following a Rs300,000 rise, it would now cost Rs7,359,000.

    Hilux Revo G Manual 2.8: The business raised the price by Rs330,000, bringing it to Rs7,989,000, up from Rs7,659,000 previously.

    The Hilux Revo G Automatic 2.8 has increased by Rs350,000, bringing its new price to Rs8,379,000, up from Rs8,029,000 previously.

    Hilux Revo V Automatic 2.8 was formerly priced at Rs8,839,000, but it is now priced at Rs9,229,000, a Rs390,000 increase.

    The Hilux Revo Rocco, which used to cost Rs9,319,000, now costs Rs9,729,000 after a price increase of Rs410,000.

    Toyota Fortuner

    Fortuner 2.7 G, formerly priced at Rs9,499,000, will now cost Rs9,959,000 after a price increase of Rs460,000.

    Fortuner 2.7 V now costs Rs11,459,000 instead of Rs10,949,000, a huge difference of Rs510,000.

    Fortuner 2.8 Sigma 4, received a price hike of Rs550,000, bringing it to Rs12,039,000, up from Rs11,489,000 previously.

    The fourth is the Fortuner Legender, which used to cost Rs12,099,000 but now costs Rs12,679,000 after an Rs580,000 price increase.

    Customers affected by the new pricing

    The new price will apply to all bookings placed after April 30, 2022. All orders placed before March 23 will be charged at the previous rate. All vehicles booked between March 23 and April 29, 2022, or before June 20, 2022, will be billed at the old rate. From March 23 to April 29, 2022, or before June 20, 2022, all DFS orders will be invoiced at the earlier rate.

  • Toyota Pakistan records highest monthly sales, selling 7,132 vehicles in March 2022

    Toyota Pakistan records highest monthly sales, selling 7,132 vehicles in March 2022

    Toyota Indus Motor Company (IMC) achieved a new monthly milestone in March 2022, selling 7,132 vehicles, exceeding the prior record of 7,001 vehicles sold last year in October.

    It is pertinent to mention that the manufacturer has established a monthly sales record for the third time in the last eight months, which is a remarkable achievement.

    IMC has experienced tremendous growth over almost three decades of competence in producing and marketing Toyota cars in Pakistan. It was also revealed that the recent sales are the biggest since the company’s inception in 1993, for which the business has extended gratitude to its devoted customers.

    As consumer demand has grown over time, the corporation has made significant efforts to expand its capacity in order to satisfy the demands for innovative products.

    One of the most popular models from Toyota Pakistan is the iconic Toyota Corolla, which is also one of Asia’s most popular automobiles. The latter has been quite successful for decades now, accounting for the best sales.

    Due to its relatively faster delivery period than other car brands in Pakistan, the automaker has a broad demand in the nation and appeals to a wider clientele for its durable and trusted offerings.

    Reportedly, the Toyota Yaris has a two-month delivery wait as opposed to the Honda City’s four-month delivery period.

    In order to maintain quality standards, the firm invests heavily in coaching and motivating its qualified personnel. The corporation places a strong emphasis on corporate ethics along with employee and customer safety.

    On the flip side, the corporation may have to raise prices once again due to worldwide logistical issues, rising freight costs, and the depreciation of the Pakistani rupee.

    Imported raw materials have become pricier for automakers as the rupee continues to depreciate against the US dollar. As a consequence, IMC said that overall sales may drop by nearly 15 per cent over the coming years.