Tag: Corolla Cross

  • Toyota unveils affordable non-hybrid variants of Corolla Cross in Pakistan

    Toyota unveils affordable non-hybrid variants of Corolla Cross in Pakistan

    Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan, has revealed its latest offerings for consumers.

    On Friday, the company announced the introduction of two petrol variants of the Corolla Cross. Bookings for these models are set to commence from March 23, with deliveries tentatively scheduled to begin on April 15.

    The Corolla Cross 1.8X, positioned as the high-end gasoline model, is priced at Rs8.899 million, while its basic counterpart, the 1.8 (Low), comes with a price tag of Rs8.199 million.

    In comparison, the hybrid variants are priced slightly higher, with the mid-level category priced at Rs9,399,000 and the high-end category at Rs9,849,000. It’s important to note that the company has labeled these prices as ‘introductory’ during the launch event.

    Despite this announcement, market experts suggest that the hybrid models of the Corolla Cross may remain more appealing to consumers, especially in light of rising fuel prices.

    However, experts in the auto sector note that the gasoline variants are competitively priced within the range of other compact SUVs such as the Kia Sportage, Hyundai Tucson, and MG-HS, indicating potential competition within this segment.

    The auto industry in Pakistan has witnessed intensified competition, with companies offering various discounts to attract customers.

    Toyota Corolla Cross, Corolla Cross price, Toyota car prices, Toyota cars latest prices,

  • Declining sales: KIA slashes Sportage prices by up to Rs300,000

    Declining sales: KIA slashes Sportage prices by up to Rs300,000

    In a strategic move to stimulate demand, Lucky Motor Corporation, formerly known as Kia Lucky Motors Pakistan, has announced a significant reduction in the prices of its popular compact SUV, the Sportage.

    The revised prices, effective from March 4, have been lowered by up to Rs300,000.

    The basic variant, Alpha, has witnessed a substantial decrease of Rs250,000, now priced at Rs7.3 million.

    Additionally, the prices of Sportage’s FWD, AWD, and limited black edition variants have all been reduced by Rs300,000. Consequently, the new prices stand at Rs7.74 million, Rs8.47 million, and Rs9 million, respectively.

    This move comes amid challenging times for the automobile sector in Pakistan, which experienced a significant 50% year-on-year decline in sales during the first half of fiscal year 2024.

    Experts anticipate that Lucky Motor Corporation’s decision to lower Sportage prices could contribute to a resurgence in its sales.

    It’s important to note that while Sportage undergoes a price adjustment, other models such as Picanto and Stonic will maintain their current pricing.

    Kia had already implemented several promotional offers, including installment plans, cashback, and free registration, to entice potential buyers.

    This latest price reduction aligns with the industry trend, as competitors like Chery Tiggo and Changan Oshan have also lowered their prices by Rs300,000.

    Industry observers attribute Sportage’s recent sales challenges to intensified competition, particularly with the introduction of the Corolla Cross in the same price range.

    Although the latter is a hybrid electric vehicle (HEV), it has further heightened the competition in the market.

    Despite Lucky Motor Corporation’s efforts, reports suggest that the previously offered interest-free loan policy and other incentives haven’t generated substantial demand.

    Furthermore, a cashback offer of Rs150,000 on booking across all Sportage variants, which was in place before the price adjustment, failed to attract significant attention from potential buyers.

  • Indus Motor Company invests Rs3 billion to boost local auto production

    Indus Motor Company invests Rs3 billion to boost local auto production

    In a significant move within Pakistan’s automotive sector, Indus Motor Company Limited (INDU) has greenlit an investment of approximately Rs3 billion (around $10.76 million) aimed at bolstering the localisation of production.

    The company, renowned for being the manufacturer of Toyota-brand vehicles in the country, disclosed this pivotal development in a notice submitted to the Pakistan Stock Exchange (PSX) on Thursday.

    The announcement conveyed, “We are pleased to announce that the Board of Directors, in its meeting held on February 21, 2024, has approved an investment of around Rs3 billion to be made by the company for additional localization of parts and components of various existing vehicles.”

    Indus Motor revealed that this investment aligns with the company’s overarching strategy to continually augment the localization of parts and components of vehicles manufactured within the country.

    This move is poised to curtail the outflow of foreign exchange and foster growth within the local auto industry.

    “The announced investment shall be made towards expenditure in plant and machinery, moulds, dies, equipment, and related expenses for localization of parts and components to be manufactured locally for various existing vehicles,” stated Indus Motor.

    The timeline for this substantial investment is set to conclude by the third quarter of the calendar year 2025.

    Indus Motor has previously indicated its commitment to increasing product localization. Notably, the company introduced its Hybrid Electric Vehicle (HEV) Corolla Cross last year, emphasising that 50 per cent of its value was localized.

    CEO Ali Asghar Jamali highlighted that, after accounting for government taxes, over 50 per cent of the Corolla Cross’s value comprises localised parts, distinguishing it among other assembled hybrids in the country.

  • Toyota IMC unveils locally-made Toyota Corolla Cross Hybrid in Pakistan

    Toyota IMC unveils locally-made Toyota Corolla Cross Hybrid in Pakistan

    Indus Motor Company (IMC) celebrated the launch of the 4th generation Toyota Corolla Cross Hybrid Electric Vehicle (HEV) at its manufacturing facility in Karachi.

    This marks a significant achievement for IMC, emphasising the ‘Made in Pakistan’ initiative and showcasing the strong bond between Japan and Pakistan. Notable figures present at the ceremony included Federal Secretary Asad Rehman Gilani, Toyota’s top leadership and the Japanese Ambassador to Pakistan, Mitsuhiro Wada. 

    Yoshiyuki Takai, expressing optimism about the Corolla Cross HEV’s reception in Pakistan, highlighted the environmental benefits of increased hybrid vehicle adoption.

    Gilani, on behalf of the government, congratulated IMC and reiterated the commitment to support hybrid and electric technologies, aligning with the Auto Policy 2021–26. IMC’s CEO, Ali Asghar Jamali, emphasised the company’s dedication to sustainability, revealing an investment exceeding $100 million in manufacturing the first locally produced HEV.

    The Corolla Cross HEV boasts a smooth and efficient 1800-cc engine with hybrid and gasoline options. Jamali also outlined IMC’s contribution to the local automobile sector, encompassing a comprehensive value chain, part manufacturers, authorised dealerships, and a substantial workforce of over 450,000 people.

  • Toyota Pakistan to launch first-ever locally assembled Hybrid crossover

    Toyota Pakistan to launch first-ever locally assembled Hybrid crossover

    Toyota Indus Motor Company (IMC), Pakistan’s most prominent automaker, is upgrading its manufacturing plant in preparation for the start of local production of hybrid electric vehicles (HEVs) by 2023.

    Toyota IMC CEO Ali Asghar Jamali revealed that the locally assembled Toyota Corolla Cross will be available in 2023. It is worth noting that this crossover will be the first ever locally assembled Hybrid vehicle by the Japanese manufacturer in Pakistan.

    He stated that the company intends to launch its hybrid crossover SUV in the Rs5 to Rs7 million price range, which may not be possible given the country’s economic and overall situation. Experts predict that the Crossover will be priced between Rs9-10 million.

    Given the current economic situation and the government’s plan to raise car taxes, Toyota IMC will reveal its final price next year.

    Jamali also discussed the company’s plans for overall HEV localization. He stated that Toyota has already invested $100 million in Pakistan to produce HEVs and plans to introduce electric vehicles (EVs) in the future when the country is ready for this technology.

    Jamali emphasised that HEVs are a midterm solution before EVs because Pakistan lacks the infrastructure for the latter, and that converting all cars to HEVs could reduce Pakistan’s oil imports by up to 50%.

    As most of Pakistan’s electricity is produced using fossil fuels, EVs will increase local LNG, coal, and crude oil imports, while investment in improving distribution and creating a charging infrastructure will also be required, according to Jamali.