Sedan car sales experienced a significant downturn, particularly notable in Honda Civic sales, which suffered a substantial decline of 67.33 per cent in October 2023 on a month-over-month basis and 72.36 per cent on a year-over-year basis in Pakistan.
This decline can be attributed to production interruptions, elevated car prices, and a reduction in car financing.
Specifically, Honda Atlas Cars Limited reported the sale of only 379 Civic units in October 2023, a notable drop from the 1371 units sold in October 2022.
In contrast, Toyota Corolla sales exhibited a relatively better performance, with a 24.19 per cent decrease on a month-over-month basis and a 56.69 per cent decrease on a year-over-year basis in Pakistan.
To provide precise figures, Toyota Indus Motor Company sold 796 Corolla units in October 2023, as opposed to the 1838 units sold in October 2022.
Indus Motor Company, the leading assembler of Toyota-brand vehicles in Pakistan, has made a significant move to benefit its customers.
In a recent announcement sent to its dealers on Tuesday, the company revealed a substantial reduction in car prices, effective October 24. This decision was prompted by the recent strengthening of the Pakistani rupee against the US dollar.
Following this development, the basic Yaris model 1.3MT LO is now more affordable, with a price decrease of Rs100,000, or 2.2 per cent, bringing its new price to Rs4.399 million.
Similarly, the top variant, 1.5 CVT Aero, will now be available at Rs5.849 million after a reduction of Rs120,000.
The Toyota Corolla’s variant prices have been reduced between Rs200,000 and Rs250,000. Furthermore, Toyota’s pickup Revotrucks are now more budget-friendly, with price reductions ranging from Rs450,000 to Rs790,000.
One of the most notable changes is seen in the Fortuner G4x2 Petrol STD, which will now be priced at Rs14.499 million after a substantial reduction of Rs1.31 million, or 8.3 per cent.
This price adjustment follows the footsteps of other major players in the industry, including MG Motors and Lucky Motor Corporation (LMC), both of which have also announced price reductions for their vehicles.
The automobile sector in Pakistan has faced challenges recently, mainly due to fluctuating exchange rates and restrictions on imports.
The rupee experienced a significant depreciation against the dollar, reaching a record low of Rs307.1 on September 5.
However, it has since recovered, stabilising around the Rs279–280 level. This positive trend aligns with the efforts of the caretaker government, which took measures against smugglers and hoarders, contributing to the currency’s recovery.
Apart from currency fluctuations, the auto sector was affected by previous government policies, including import restrictions aimed at preserving foreign exchange reserves.
Additionally, higher finance costs and a considerable rise in car prices led to a decrease in consumer demand. In the first quarter of FY24, car sales in Pakistan plummeted to 20,983 units, marking a 40 per cent decline compared to the same period the previous year.
Here are the latest prices of all Toyota cars in Pakistan:
A 72-year-old New Zealander named Graeme Hebley’s 1993 Toyota Corolla has clocked more than two million kilometres – and the car is still running efficiently to this day.
Hebley thinks the car can continue to be driven “forever” as the engine still performs flawlessly.
“I wouldn’t believe it could do two million without something going wrong. In my whole career, that is the highest I have seen,” said Hebley when he hit the milestone.
According to NDTV, Hebley has not had much trouble with the old car. He services it every two weeks at a local car care station. Shockingly, the service schedule has been the same for the past 22 years since he bought the car.
Hebley works as a newspaper delivery contractor and drives 5,000 kilometres a week.
Not many changes have been made to the vehicle since then besides replacing the wheel bearings and the cambelt about 20 times.
Hebley too has not gotten tired of driving the car for more than 20 years. “I couldn’t help but love my Toyota Corolla. Whatever I do, it just bounces back.” Hebley says he has no plans to stop doing long drives across the country anytime soon. “The car might outlast me at this point,” he added.
The 1993 Toyota Corolla owned by Hebley is a station wagon. Under the hood of this front-wheel drive vehicle is a 1.8-litre inline four-cylinder engine mated to a five-speed manual transmission. The engine can churn out 115 hp of maximum power and 156 Nm of peak torque.
Several social media posts suggested that the Punjab government had approved the procurement of luxury cars worth approximately Rs100 crore for bureaucrats, but the story remained a rumour until it was validated by Geo Fact Check.
According to a Twitter user, the Punjab government is spending Rs989 million to buy 93 vehicles from Toyota Indus Motor Company, including more than 40 Toyota Fortuner SUVs. “It is an organised crime with a very high sense of entitlement,” the user further added, sharing an alleged notification from the revenue department Punjab.
The Board of Revenue’s headquarters in Lahore provided Geo with a copy of the official notification.
According to the document, the Punjab assembly’s standing committee of cabinet on finance and development has instructed that Rs989 million be spent on the purchase of 93 luxury cars for provincial bureaucrats.
40 Toyota Fortuner SUVs will be purchased for Deputy Commissioners in Punjab at a cost of Rs533,600,000.
While 12 Corolla X vehicles will be acquired for members of the revenue board and 41 Hilux 4×4 vehicles will be distributed to extra deputy commissioners (revenue). The total cost of all 93 vehicles will be Rs989,116,000.
The notification was sent to Indus Motors in Lahore “through Toyota Gujrat Motors,” it said.
Toyota Indus Motor Company (IMC) has announced a reduction in car prices after the Pakistani rupee’s spectacular comeback against the US dollar.
It is worth mentioning that Toyota had increased car prices up to Rs3.16 million less than two weeks ago.
The latest car prices for Toyota’s Completely Knocked Down (CKD) units are listed below:
Vehicle
Old Price
New Price
Reduction
Toyota Yaris
Yaris 1.3 Gli M/T
Rs3,799,000
Rs3,539,000
Rs260,000
Yaris 1.3 Gli CVT
Rs4,039,000
Rs3,769,000
Rs270,000
Yaris 1.3 ATIV M/T
Rs3,999,000
Rs3,729,000
Rs270,000
Yaris 1.3 ATIV CVT
Rs4,209,000
Rs3,929,000
Rs280,000
Yaris 1.5 ATIV X M/T
Rs4,309,000
Rs4,009,000
Rs300,000
Yaris 1.5 ATIV X CVT
Rs4,569,000
Rs4,259,000
Rs310,000
Toyota Corolla
Corolla Altis 1.6 M/T
Rs4,899,000
Rs4,569,000
Rs330,000
Corolla Altis 1.6 A/T
Rs5,139,000
Rs4,789,000
Rs350,000
Corolla Altis SE 1.6 A/T
Rs5,639,000
Rs5,279,000
Rs360,000
Corolla Altis 1.8 CVT
Rs5,679,000
Rs5,269,000
Rs410,000
Corolla Altis 1.8 Grande CVT Beige Interior
Rs6,149,000
Rs5,709,000
Rs440,000
Corolla Altis 1.8 Grande CVT Black Interior
Rs6,189,000
Rs5,749,000
Rs440,000
Toyota Hilux Revo
Hilux Revo G 2.8 M/T
Rs9,819,000
Rs9,169,000
Rs650,000
Hilux Revo G 2.8 A/T
Rs10,299,000
Rs9,609,000
Rs690,000
Hilux Revo V 2.8 A/T
Rs11,349,000
Rs10,599,000
Rs750,000
Hilux Revo Rocco
Rs11,999,000
Rs11,179,000
Rs820,000
Toyota Fortuner
Fortuner G A/T
Rs12,489,000
Rs11,579,000
Rs910,000
Fortuner V A/T
Rs14,279,000
Rs13,259,000
Rs1,020,000
Fortuner Sigma 4 A/T
Rs15,069,000
Rs13,969,000
Rs1,100,000
Fortuner Legender
Rs15,839,000
Rs14,699,000
Rs1,140,000
Toyota cars latest price list effective from 16 August 2022
The automaker decreased the price of Corolla variants by Rs330,000-Rs440,000. The price of the Corolla 1.6 manual model was reduced by Rs330,000, from Rs4.899 million to Rs4.569 million. After a reduction of Rs350,000, the Corolla 1.6 automatic model is now priced at Rs4.789 million.
Similar reductions were made in the price of Yaris variants, which were reduced between Rs260,000 and Rs310,000. The Yaris 1.5 CVT received the largest price reduction in the aforementioned category, falling by Rs310,000 to a new price of Rs4.259 million from its previous price of Rs4.569 million.
The price of Hilux Revo was reduced between Rs650,000 to Rs820,000. While the invoice of Revo V AT Rocco dropped from Rs11.999 million to Rs11.179 million, the cost of Revo G MT reduced from Rs9.819 million to Rs9.169 million.
IMC also reduced the prices for the Fortuner models between Rs910,000 and Rs1.14 million.
After a drop of Rs910,000, the Toyota Fortuner Lo Petrol variant is now offered for Rs11.579 million. The Fortuner Diesel Legender model witnessed a major price decrease, dropping from Rs15.839 million to Rs14.69 million.
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.
Nearly 70 years after the initial vehicle went on sale, the Toyota nameplate for passenger automobiles, which was also the brand’s first to be exported to the United States, is ready to enter its 16th generation.
It will forgo the standard sedan body form in favour of something resembling a high-riding fastback. Even the Japanese manufacturer rhetorically queries if the new Crown is a sedan or an SUV on its dedicated website.
The updated model is anticipated to arrive in the United States in the summer of 2023, most likely as 2024MY. The world premiere is scheduled for July 15. It’s important to note that Toyota already increased the Crown lineup by launching the nameplate in China. It is utilised for premium versions of the Highlander SUV and Vellfire minivan rather than specific models.
If the low-volume Century, which has a special status in the lineup and is only offered to VIPs, is excluded, the Crown has historically been Toyota’s flagship vehicle in its native Japan. Since sedans have lost favour in the Land of the Rising Sun, the next-generation vehicle will not resemble the current one at all, according to patent images.
According to a recent report (connected to those patent images), the new model will measure 4,930 millimetres (194 inches) in length, 1,840 millimetres (72.4 inches) in width, and 1,540 millimetres (60.6 inches) in height.
According to reports, the wheelbase is 2,850 mm (112.2 in) long, and the platform may be Toyota’s TNGA-K. There are plans for hybrid and plug-in hybrid drivetrains, as well as two- and four-wheel-drive versions.
The company’s most costly vehicle in the lineup is expected to be the US-bound sedan/SUV, which is expected to cost around Rs11,428,488 ($50,000) before extras. A wholly electric derivative is anticipated for later in the product’s life cycle, according to sources familiar with the situation, but it’s not clear if the EV would be sold in North America.
Reuters reported in April that Toyota planned to modernise the Crown sedan, retain it on the market in its home country alongside this new model, and make both of them in Japan.
