Toyota races up car prices

ISLAMABAD, Nov 19 (NNI): The Indus Motor Company (IMC) has hiked the car prices of Toyota Corolla (2 variants) and Toyota Revo.
According to a notification, due to economic uncertainties and inflation in raw material cost, the vendor cost of production has significantly increased. “In addition, the uncertainties in forex fluctuations, increase in utilities and overheads has also impacted the cost of manufacturing, thus IMC is compelled to pass on some impact to the market,” the notification read.
The company has increased the prices of two variants: The first one is Corolla 1.6 CVT, which has the new price of Rs4,979,000 against the previous rate of Rs4,789,000 meaning it saw a jump of Rs190,000. Then second variant is Corolla 1.6 CVT (Special Edition) and its new price is Rs5,479,000 against the old price of Rs5,279,000 as it has observed a jump of Rs200,000.
The revised prices of Toyota Revo are: The first one, Toyota Hilux has seen a jump of Rs. 620,000 as its new price is Rs9,069,000 compared to Rs8,449,000. Then comes Toyota Hilux Revo G 2.8 and its new price is Rs9,839,000 compared to Rs9,169,000 as it saw an increase of Rs670,000. The last one is Toyota Hilux Revo G Automatic 2.8, this variant will now cost Rs10,309,000 compared to Rs9,609,000 as the company increased its price by Rs700,000.
These are ex-factory prices and will be effective from November 17, 2022. All IMV outstanding orders with full payment received on or before November 25, 2022 will be invoiced at old prices. All IMV outstanding orders approved as per price circulars on March 22, April 29 and August 15, 2022 will be invoiced as per their respective approved prices. Corolla 1.6 CVT and CVT SE new prices will be effective on all orders as of November 16, 2022 except for order list shared with announcement on October 27, 2022.
All Corolla outstanding orders as of November 16 with full payments made by July 15, 2022 in accordance with terms and dates as per price circular of March 22, April 29 and August 15, 2022 will be required to pay the fixed price differential of Rs300,000 inclusive of 1% Capital Value Tax by November 25, 2022. The prices are exclusive of transportation, transit insurance charges etc. PNP