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:
| Car Model | Variant | Old Price (Rs.) | New Price (Rs.) | Price Reduction (Rs.) |
| Yaris | 1.3 MT LO | 4,499,000 | 4,399,000 | 100,000 |
| 1.3 CVT LO | 4,789,000 | 4,689,000 | 100,000 | |
| 1.3 MT Hi | 4,759,000 | 4,659,000 | 100,000 | |
| 1.3 CVT Hi | 4,999,000 | 4,899,000 | 100,000 | |
| 1.3 CVT Aero | 5,199,000 | 5,099,000 | 100,000 | |
| 1.5 MT | 5,429,000 | 5,309,000 | 120,000 | |
| 1.5 CVT | 5,769,000 | 5,649,000 | 120,000 | |
| 1.5 CVT Aero | 5,969,000 | 5,849,000 | 120,000 | |
| Corolla | 1.6 MT | 6,169,000 | 5,969,000 | 200,000 |
| 1.6 CVT | 6,769,000 | 6,559,000 | 210,000 | |
| 1.6 CVT SR | 7,429,000 | 7,189,000 | 240,000 | |
| 1.8 CVT | 7,119,000 | 6,889,000 | 230,000 | |
| 1.8 CVT SR | 7,759,000 | 7,509,000 | 250,000 | |
| 1.8 CVT SR BLK | 7,799,000 | 7,549,000 | 250,000 | |
| Hilux Revo | E | 11,439,000 | 11,039,000 | 400,000 |
| G | 12,409,000 | 11,959,000 | 450,000 | |
| G | 13,019,000 | 12,549,000 | 470,000 | |
| V AT 2.8 | 14,389,000 | 13,849,000 | 540,000 | |
| V AT Rocco | 15,179,000 | 14,419,000 | 760,000 | |
| GR S | 16,149,000 | 15,359,000 | 790,000 | |
| Fortuner | 2.7 G Petrol | 15,809,000 | 14,499,000 | 1,310,000 |
| 2.7 V Petrol | 18,099,000 | 16,999,000 | 1,100,000 | |
| 2.8 Sigma 5 Diesel | 19,079,000 | 17,999,000 | 1,080,000 | |
| Legender Diesel | 20,129,000 | 18,999,000 | 1,130,000 | |
| GRS | 21,089,000 | 19,899,000 | 1,190,000 |
