Toyota IMC halts car bookings after rupee depreciation

05:10 PM | 12 Oct, 2018
Toyota IMC halts car bookings after rupee depreciation
KARACHI – Toyota Indus Motor Company (IMC) has stopped booking of its cars due to the recent depreciation in Pak Rupee’s value.

In a notice, the company has asserted that after the rupee has devalued further, the duties and taxes have increased on cars and it has stopped booking of the vehicles.

After the company fully grasp the situation, it will revise the prices of the vehicles accordingly and will once again open the car bookings.

The notice also reads that it is the policy of the IMC that it only takes initial sum at the time of booking of the car and discourage the buyers to pay full amount while giving booking order; the customers will pay the price of the car at that time’s rate, even if they had paid the initial sum or full payment at the time of booking.

However, it added that the deliveries scheduled for the month of October '18, for which full payments have been received, will continue at the current retail prices.

According to local car dealers, the company has halted the booking of its vehicles for the past 5-10 days and will resume it after another price hike.