cvt

‘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.

February 15, 2023

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

January 29, 2023

Suzuki resumes Swift GLX CVT bookings ‘for a limited time only’

Production and sales at Pak Suzuki Motor Company (PSMC) are picking up speed. The automaker just announced the reopening of bookings for its overall lineup of vehicles on its official Facebook page.

The best kei car-selling company is also accepting reservations for the Suzuki Swift’s top and most expensive GLX CVT model, according to Pak Suzuki’s official Facebook page. Without providing a specific date, the automaker claimed that the offer is only valid for a short period of time.

Sales for PSMC also slightly increased last month. This, along with the aforementioned factors, may signal the company’s turnaround from a protracted slump. Even so, the Swift GLX CVT’s Rs3.76 million price tag makes it difficult to sell.

The new Swift GL CVT Limited Edition model sits below the GLX CVT model and offers a few extra conveniences over the GL CVT model. These features include a center armrest between the passenger seats and a rear top spoiler.

The Limited Edition variant of Swift costs Rs3,450,000, which is only Rs30,000 more than the Swift GL CVT standard model. The increased cost represents a premium for the added improvements in the Limited Edition variant.

November 25, 2022

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.

November 18, 2022

Toyota announces a massive price increase for all vehicles

Toyota Indus Motor Company (IMC) has announced a massive price increase for all of its completely knocked down (CKD) units.

Here are the new prices:

Model	Old Price (Rs)	New Price (Rs)	Total Increase (Rs)
Toyota Yaris
1.3 Gli M/T	3,039,000	3,799,000	760,000
1.3 Gli CVT	3,249,000	4,039,000	790,000
1.3 ATIV M/T	3,209,000	3,999,000	790,000
1.3 ATIV CVT	3,379,000	4,209,000	830,000
1.5 ATIV X M/T	3,449,000	4,309,000	860,000
1.5 ATIV X CVT	3,659,000	4,569,000	910,000
Toyota Corolla
Altis 1.6 M/T	3,909,000	4,899,000	990,000
Altis 1.6 A/T	4,099,000	5,139,000	1,040,000
Altis SE 1.6 A/T	4,509,000	5,639,000	1,130,000
Altis 1.8 CVT	4,499,000	5,679,000	1,180,000
Altis 1.8 Grande CVT Beige Interior	4,859,000	6,149,000	1,290,000
Altis 1.8 Grande CVT Black Interior	4,899,000	6,189,000	1,290,000
Toyota Hilux
Revo G 2.8 M/T	7,989,000	9,819,000	1,830,000
Revo G 2.8 A/T	8,379,000	10,299,000	1,920,000
Revo V 2.8 A/T	9,229,000	11,349,000	2,120,000
Revo Rocco	9,729,000	11,999,000	2,270,000
Toyota Fortuner
Fortuner G A/T	9,959,000	12,489,000	2,530,000
Fortuner V A/T	11,459,000	14,279,000	2,820,000
Fortuner Sigma 4 A/T	12,039,000	15,069,000	3,030,000
Fortuner Legender	12,679,000	15,839,000	3,160,000

Latest Toyota Price List

After declining for 10 straight sessions in the interbank market as the country’s foreign exchange reserves continued to shrink, the Pakistani rupee managed to make a small gain of a few paisas against the US dollar.

Read more: Cheapest new cars in Pakistan

The ongoing depreciation of the local currency has shown a significant negative impact on the purchasing power of the masses.

July 29, 2022

Hyundai Pakistan launches another variant of obsolete Elantra

Hyundai-Nishat has introduced the long-awaited Elantra GL 1.6, with a hefty price tag of Rs4.3 million for the ‘base trim’.

This model was predicted to compete with the Altis X 1.6, but Rs4.3 million for a base model does not seem to attract much for a car that already existed.

The ‘latest sedan’ is now available for bookings at Hyundai dealerships for Rs1.2 million. In terms of appearance, the new Elantra GL is identical to the GLS model. The majority of the changes have occurred on the inside.

GL’s naturally aspirated 1.6-liter 4-cylinder petrol engine produces 127 horsepower (hp) and 155 Newton-meters (Nm) of torque in the new model. It has a 6-speed automatic transmission that drives the front wheels.

The Toyota Corolla Altis 1.6L, which is priced between Rs3.92 million and Rs4.3 million, will be the Hyundai Elantra GL’s main rival which comes with a 4-year or 100,00 km warranty. Hyundai, as a newcomer to Pakistan’s automarket, appears to be up against a formidable opponent: Toyota Indus, which has been selling automobiles for decades and is known for its sturdiness.

It is too early to comment on its performance at the moment, as its fate will be revealed in the near future when Pakistan Automotive Manufacturer’s Association releases the monthly sales data.

April 18, 2022