Tag: Toyota

  • Toyota Pakistan announces another massive price hike for all cars

    Toyota Pakistan announces another massive price hike for all cars

    For the second time in less than a month, Toyota Indus Motor Company (IMC) has announced a hefty price increase for all of its locally assembled vehicles. The increase was attributed by the corporation to the ongoing depreciation of the local currency against the US dollar.

    All variants from Toyota have received a hike of more than Rs170,000, which goes up to nearly Rs600,000.

    Toyota Corolla

    The old price of the Corolla Altis X Manual 1.6 was Rs3,749,000, and it will now cost Rs3,909,000 after a rate hike of Rs160,000.

    The Altis X Automatic 1.6 witnessed a price increase of Rs170,000, and now costs Rs4,099,000, up from Rs3,929,000 earlier.

    Altis X Automatic 1.6 Special Edition (SE) was previously priced at Rs4,309,000 and is now priced at Rs4,509,000.

    Altis X CVT-i 1.8, which also got a Rs200,000 hike, bringing the rate to Rs4,499,000, up from Rs4,299,000 previously.

    The price of the Altis Grande X CVT-i 1.8 (Beige Interior) has increased by Rs210,000, bringing the total price to Rs4,859,000, up from Rs4,649,000 previously.

    The Corolla Altis Grande X CVT-i 1.8 (Black Interior) was priced at Rs4,689,000, which now costs Rs4,899,000 after a price increase of Rs210,000.

    Toyota Yaris 

    The present price of the Yaris GLI MT 1.3 is Rs2,899,000, however after a price increase of Rs140,000, the new price is Rs3,039,000.

    Yaris ATIV MT 1.3, saw a price increase of Rs150,000, bringing the total price to Rs3,209,000, up from Rs3,059,000 previously.

    Yaris GLI CVT 1.3, and following the recent rise of Rs140,000, the car’s new price is Rs3,249,000, up from Rs3,109,000.

    Yaris ATIV CVT 1.3, used to cost Rs3,229,000, is now priced at Rs3,449,000 after a price spike of Rs150,000.

    The revised pricing of the Yaris ATIV X MT 1.5 is Rs3,449,000, an increase of Rs160,000. It was last sold for Rs3,289,000.

    The new price of the Toyota Yaris ATIV X CVT 1.5 is Rs3,659,000, increase from the original price of Rs3,499,000.

    Toyota Revo

    The earlier price of the Hilux E was Rs7,059,000, and following a Rs300,000 rise, it would now cost Rs7,359,000.

    Hilux Revo G Manual 2.8: The business raised the price by Rs330,000, bringing it to Rs7,989,000, up from Rs7,659,000 previously.

    The Hilux Revo G Automatic 2.8 has increased by Rs350,000, bringing its new price to Rs8,379,000, up from Rs8,029,000 previously.

    Hilux Revo V Automatic 2.8 was formerly priced at Rs8,839,000, but it is now priced at Rs9,229,000, a Rs390,000 increase.

    The Hilux Revo Rocco, which used to cost Rs9,319,000, now costs Rs9,729,000 after a price increase of Rs410,000.

    Toyota Fortuner

    Fortuner 2.7 G, formerly priced at Rs9,499,000, will now cost Rs9,959,000 after a price increase of Rs460,000.

    Fortuner 2.7 V now costs Rs11,459,000 instead of Rs10,949,000, a huge difference of Rs510,000.

    Fortuner 2.8 Sigma 4, received a price hike of Rs550,000, bringing it to Rs12,039,000, up from Rs11,489,000 previously.

    The fourth is the Fortuner Legender, which used to cost Rs12,099,000 but now costs Rs12,679,000 after an Rs580,000 price increase.

    Customers affected by the new pricing

    The new price will apply to all bookings placed after April 30, 2022. All orders placed before March 23 will be charged at the previous rate. All vehicles booked between March 23 and April 29, 2022, or before June 20, 2022, will be billed at the old rate. From March 23 to April 29, 2022, or before June 20, 2022, all DFS orders will be invoiced at the earlier rate.

  • This 8-year-old started driving two years ago

    This 8-year-old started driving two years ago

    We have previously heard or seen 13-year-olds driving confidently on Pakistani roads, but this time a YouTube video of an 8-year-old boy driving a full-fledged Toyota SUV with his 10-year-old sister has stunned everyone.

    The video posted on the internet was shot by his own father, who owns the white Toyota Fortuner. The boy claimed in the video that he has been driving since he was six years old, which is even more surprising given that he is struggling to look out the window, confirming that he is unable to obtain a clear view of the road.

    In the comments section, the majority of viewers critiqued the video for encouraging underage driving and putting others’ lives at risk, while others applauded the boy’s driving skills. It is worth adding that this is not the first time a video of this kind has gone viral. Earlier, a kid who seemed to be 11–12 years old was recorded months ago driving a Toyota Land Cruiser on a busy road.

    Read more: This Mercedes has a smaller engine than the Honda Pridor

    Promoting underage driving is becoming a worrisome trend in Pakistan, which the government must address promptly.

  • Toyota to launch its first electric car with 559 km range next month

    Toyota to launch its first electric car with 559 km range next month

    Toyota announced that it will introduce its revolutionary bZ4X battery-powered SUV in its home market on May 12, as part of a larger push to minimise its carbon footprint.

    The bZ4X is Toyota’s first vehicle built on a specific electric vehicle (EV) platform created in collaboration with Subaru. It’s made at the Motomachi factory, which now employs CO2-free utility power sourced from renewable sources.

    It was also disclosed that the Japanese dealerships would start taking orders for the first batch of 3,000 vehicles in May 2022, with the second batch of about 2,000 vehicles anticipated early in the autumn. This year, the manufacturer plans to create and sell 5,000 units.

    The Japanese manufacturer claims that its new battery electric vehicle (BEV) SUV has a power-efficiency rating of 128Wh/km and a touring range of 559 kilometers (347 miles). It is compatible with rapid DC chargers available all around the world, while its battery can be topped to 80 per cent in just 40 minutes.

    All bZ4X models delivered in Japan will be leased, as per the manufacturer, to alleviate customer concerns about electric cars and allow it to apply its 3Rs (Rebuild, Reuse, Recycle) battery management system. The batteries incorporated in the SUVs will be guaranteed for ten years and 200,000 kilometers (120,000 miles) at 70 per cent capacity retention.

    Read more: Here’s a look at the new Honda Vezel 2023

    The Kinto service will be able to lease the bZ4X models to private clients, while the Rent-a-Lease and Toyota Mobility Services networks will be able to lease the EV to corporate customers.

  • Toyota Pakistan records highest monthly sales, selling 7,132 vehicles in March 2022

    Toyota Pakistan records highest monthly sales, selling 7,132 vehicles in March 2022

    Toyota Indus Motor Company (IMC) achieved a new monthly milestone in March 2022, selling 7,132 vehicles, exceeding the prior record of 7,001 vehicles sold last year in October.

    It is pertinent to mention that the manufacturer has established a monthly sales record for the third time in the last eight months, which is a remarkable achievement.

    IMC has experienced tremendous growth over almost three decades of competence in producing and marketing Toyota cars in Pakistan. It was also revealed that the recent sales are the biggest since the company’s inception in 1993, for which the business has extended gratitude to its devoted customers.

    As consumer demand has grown over time, the corporation has made significant efforts to expand its capacity in order to satisfy the demands for innovative products.

    One of the most popular models from Toyota Pakistan is the iconic Toyota Corolla, which is also one of Asia’s most popular automobiles. The latter has been quite successful for decades now, accounting for the best sales.

    Due to its relatively faster delivery period than other car brands in Pakistan, the automaker has a broad demand in the nation and appeals to a wider clientele for its durable and trusted offerings.

    Reportedly, the Toyota Yaris has a two-month delivery wait as opposed to the Honda City’s four-month delivery period.

    In order to maintain quality standards, the firm invests heavily in coaching and motivating its qualified personnel. The corporation places a strong emphasis on corporate ethics along with employee and customer safety.

    On the flip side, the corporation may have to raise prices once again due to worldwide logistical issues, rising freight costs, and the depreciation of the Pakistani rupee.

    Imported raw materials have become pricier for automakers as the rupee continues to depreciate against the US dollar. As a consequence, IMC said that overall sales may drop by nearly 15 per cent over the coming years.

  • Pakistani assembled Chery Tiggo SUVs to be delivered in June 2022

    Ghandhara Nissan Limited (GNL) has officially opened bookings for Chery Tiggo 4 Pro and Chery Tiggo 8 Pro, introduced with an ex-factory price of Rs 4.6 million and Rs 6.6 million respectively.

    The booking price of Tiggo 8 Pro is Rs 1.5 million and that of Tiggo 4 Pro is Rs 1 million and the expected delivery time for both models is June 2022. 

    The company partnered with Chinese Chery Automobile Co Ltd. for local assembly and distribution of the Tiggo SUV series in 2021. Chery Tiggo will now be the 12th locally assembled SUV in Pakistan.

    GNL said it had started assembling the SUVs and would be delivering the first batch of the vehicles in April at its authorized dealerships. Chery Tiggo 4 is a 1.5L Turbo five-seater vehicle, while Tiggo 8 Pro is a 1.6L Turbo seven-seater SUV.

    Considering the Auto Development Policy (ADP) 2016-21, Toyota Fortuner was the only locally assembled SUV in Pakistan.

    However, nearly a dozen SUVs were introduced after the auto industry was encouraged by the government and new entrants started stepping into the local auto market of Pakistan.

    Tiggo 8 Pro will compete against 7-seater vehicles in the local market, including the most popular Toyota Fortuner, and the offerings from new entrants: Changan Oshan X7 Comfort, DFSK Glory 580 Pro, as well as Kia Sorento. While the Tiggo 4 Pro will be a direct rival to 5-seater crossovers like KIA Stonic, MG ZS, and the newly introduced Peugeot 2008. 

  • Auto loans in Pakistan increased by Rs41 billion in Dec 2020

    Following a decrease in the interest rates and the revival of business after the pandemic-induced lockdown, auto loans increased by 19 per cent, reaching Rs41 billion in December 2020.

    The figures issued by the State Bank of Pakistan show that the car loans in December 2019 were recorded at Rs219 billion, which increased to Rs256 billion during the corresponding period in 2020.

    It is also reported that the growing demand for 1300cc passenger vehicles is the key factor behind the surge in these loans.

    According to media reports, the newly launched Toyota Yaris is responsible for the surge in car loans. Toyota Yaris has outsold Honda City and Civic combined.

    Another key driver of the increase in loans is the lowered interest rates. The State Bank of Pakistan had reduced the interest rates by 625 basis points to 7 per cent in 2020. Additionally, a decrease in the rates of soft interests meant lesser instalments for car financing programmes.

    It seems like a car price hikes by the automakers in 2020 had the least impact on the rising demand for cars. With new players entering the market before the expiration of the Auto Development Policy (ADP) 2016-2021, the demand for cars is likely to surge even more.

  • Toyota Indus shuts down plant due to low demand

    Toyota Indus shuts down plant due to low demand

    Due to a continuing fall in demand, Indus Motors Company (IMC), the maker of Toyota vehicles, has decided to shut down all production for the remaining days of September, Dawn reported.

    As a result, reports said, the total number of Non-Production Days (NPDs) this month will reach 15 and quoted an IMC official as saying that the company had already observed eight NPDs in July and 11-12 NPDs in August.

    Claiming that “half of the month was off”, the official said that the federal excise duty (FED) leveled on various engine capacity cars, the skyrocketing prices of the cars owing to the rupee-dollar parity and high-interest rates had made their cars too costly.

    A Toyota vendor was also quoted as saying that IMC’s production would remain shut from September 20-30.

    Toyota Corolla production and sales dropped to 5,308 units and 3,708 units respectively in July-August from 8,804 and 8,770 units in the same period during last fiscal year, representing a fall of 40 per cent and 57 per cent, respectively.

    “Toyota Hilux production and sales have also plunged while that of Toyota Fortuner have come down to 232 units and 162 units from 484 units and 424 units, a drop of 52 per cent and 62 per cent, respectively,” the report said.

  • ‘Rising prices, higher taxes’: Honda halts production in Pakistan

    ‘Rising prices, higher taxes’: Honda halts production in Pakistan

    As car sales drop amid rising prices due to the imposition of higher taxes and rupee depreciation, Honda Atlas Cars Pakistan (HACP) has halted production in the country for 10 days, Dawn reported Saturday.

    According to reports, HACP shut down its plant for 10 days as its inventories piled up to 2,000 units while Indus Motor Company (IMC), which produces Toyota models in Pakistan, has also decided to stop car production for eight days, two days every week, during this month.

    The report quoted HACP and IMC executives as saying that their decision to scale down production during July was informed by plummeting sales in the first 10 days of the month.

    “Our inventories from the last month and the first 10 days of July have grown rapidly because of the steep increase in car prices after currency devaluation as well as the imposition of Advance Customs Duty (ACD) on all our imports and Federal Excise Duty (FED) on assembled cars,” an HACP senior executive said.

    “It has left us with no option but to shut down the plant to cut production. If the present trend holds, we expect our sales to drop to less than 30,000 units this business year (April 2019-March 2020) from over 48,000 units last year.”

    An IMC official also gave the same reasons for “observing eight no-production days” during July. The executive, however, did not give the size of inventory the company has built so far, saying the production cuts could increase next month if sales do not pick up.