Tag: Yaris

  • Toyota Yaris prices reduced by up to Rs133,000

    Toyota Yaris prices reduced by up to Rs133,000

    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.

  • Toyota announces second price hike in less than 20 days due to economic uncertainties

    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
  • Toyota to temporarily suspend production in Pakistan

    Toyota to temporarily suspend production in Pakistan

    The impact of the current economic crisis has reportedly forced Toyota Indus Motor Company (IMC) to halt production in Pakistan.

    In accordance with the information, Toyota IMC will reimburse clients who paid deposits for reservations since the business is unable to complete such orders.

    Toyota IMC previously cited restrictions on the State Bank of Pakistan’s (SBP) approval of Letter of Credit (LCs) for the import of Completely Knocked Down (CKD) kits as one of the main causes of production interruption, which also resulted in a backlog of orders.

    Customers who are unable to wait for delayed deliveries will receive their advance payments back from Toyota IMC, and the company plans to disclose this by the end of the month.

    Fans are now speculating as to whether Toyota IMC intends to entirely cease operations in Pakistan in light of the recent situation.

    The issue might only last a short while because Toyota IMC will refund customers for purchases they have already placed, but it won’t cancel orders if the client accepts a delayed delivery of the vehicle and is willing to pay an extra amount to cover the exchange rate changes.

  • Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    The government has released the fiscal budget for 2022-23, which includes several changes, including a 200 per cent advance tax on the purchase of cars with engine displacements greater than 1600cc for non-filers.

    This decision is likely to possess a considerable effect on the sales of several cars in Pakistan, which have already witnessed multiple price hikes in previous months. The tax amount for non-filers has now been doubled, which will have an influence on new car sales, particularly those with larger engines.

    The advance tax will now be applicable to several famous vehicles that have dominated the auto industry for years now from well-known manufacturers, including old players like Honda and Toyota, as well as new players like Hyundai, Kia, DFSK and BAIC.

    Taxes for filer and non-filer

    Toyota Corolla Altis Grande, 1800cc, ranges from Rs4,499,000-4,859,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Hyundai Elantra GLS, 2000cc, priced at Rs4,949,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Tucson, 2000cc, ranges from Rs5,799,000-6,299,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.0, 2000cc, priced at Rs6,999,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    DFSK Glory 1.8 CVT, 1800cc, priced at Rs5,159,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Kia Sportage, 2000cc, priced at Rs5,300,000-6,300,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    BAIC BJ40, 2000cc, priced at Rs8,199,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.5, 2500cc, priced at Rs7,849,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Kia Sorento, 2400cc, ranges from Rs6,836,000-7,499,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Toyota Fortuner, 2700-2800cc, ranges from Rs9,959,000-12,679,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Toyota Hilux, 2800cc, ranges from Rs7,359,000-9,729,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Isuzu D-Max V-Cross, 3000cc, ranges from Rs6,600,000-6,960,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Kia Sorento V6, 3500cc, ranges from Rs7,499,000, Tax for filer: Rs450,000, Tax for non-filer: Rs900,000

    Local vehicle assemblers are dissatisfied with the new budget, claiming that the government unilaterally raised advance tax on motor vehicles larger than 1,600cc because the industry did not propose it. They claim that the decision is also discriminatory and will reduce auto sales.

    Read more: Energy sector to get a massive portion of the Rs699 billion subsidy

    Advance tax on motor vehicles larger than 1600cc has been doubled, while electric vehicles costing Rs5 million or more will be subject to a 3 per cent tax.

  • 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.