Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan, has announced a significant price adjustment for its Yaris sedan range.
This adjustment, effective from Thursday, reflects a reduction in prices ranging from Rs73,000 to Rs133,000.
The revised pricing structure for the Yaris lineup is as follows: the 1.3 MT LO, 1.3 CVT LO, and 1.3 MT Hi variants will now be priced at Rs4.326 million, Rs4.616 million, and Rs4.586 million, respectively, representing a reduction of Rs73,000 for each model.
Additionally, the price of the Yaris CVT Hi has been lowered by Rs133,000 and is now priced at Rs4.766 million.
According to Business Recorder, this decision comes in response to the recent imposition of a 25 per cent sales tax on vehicles priced above Rs4 million.
By implementing these price cuts, Indus Motor Company aims to ensure that the Yaris remains within the 18 per cent sales tax bracket.
Initially, the government’s decision to raise the sales tax was targeted at vehicles with engine sizes of 1,400 cc and above, as well as those priced above Rs4 million.
However, it later extended to include SUVs below the 1,400cc threshold, prompting manufacturers to advocate for a Rs4 million price cap.
As a consequence of this tax adjustment, certain models from Toyota, Honda, and Suzuki are now subject to the increased sales tax regime.
KIA Motors Pakistan recently stirred curiosity on social media by mentioning “Yasir and Alvin” in a post, leaving some oblivious while surprising others.
Clarifying the mystery, KIA Lucky Motor Corporation is hinting at the introduction of a sedan resembling the Toyota Yaris and Changan Alsvin.
This serves as a clear indication of the automaker’s intent to enter this segment. The upcoming car is expected to match the size of the Toyota Yaris and Changan Alsvin, eliminating the possibility of it being an entirely different model.
This move suggests that, for the time being, the Corolla and Civic segments remain unthreatened by a new entrant.
While the brand has not disclosed the car’s details or its name, it is apparent that a new vehicle is on the verge of being launched.
Considering the current economic challenges in Pakistan, with soaring car prices, launching a new vehicle seems like a risky decision.
The nation is already grappling with high petrol costs and escalating inflation, making the timing of this introduction noteworthy.
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:
Indus Motor Company (IMC) has increased the prices of all Toyota vehicles in Pakistan due to the recent hike in the General Sales Tax (GST) from 18 per cent to 25 per cent by the Federal Government. The models affected by the price hike include Toyota Yaris, Toyota Corolla Altis X, Toyota Hilux Revo (IMV III), and Toyota Fortuner (IMV IV).
According to a circular released by the company, the economic uncertainties and extreme volatile situation of Pakistani rupee against US dollar have adversely impacted the cost of manufacturing for IMC. The company has therefore been compelled to pass on some impact to the market.
The government of Pakistan has also enhanced the rate of Sales Tax to 25 per cent on all CKD vehicles with an engine capacity of 1400cc and above, except for IMV-I Single Cabin.
Toyota Pakistan has stated that the mentioned car prices are subject to change and the prevailing prices at the time of delivery shall be applicable on all orders. Any change in Government levies and taxes, tariff, fiscal policies, import policies, forex, etc. will be on account of the customer.
Here are the new prices of all Toyota cars after tax hike:
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.
