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Toyota increases car prices again by up to Rs1.16m (Check new rates here)

05:10 PM | 29 Jan, 2023
Toyota increases car prices again by up to Rs1.16m (Check new rates here)
Source: file photo

KARACHI – The Indus Motor Company (IMC), the assembler and seller of Toyota-brand vehicles in Pakistan, has increased prices of its cars for a second time in January 2023 following massive depreciation of the local currency.

The IMC notified an increase in the prices on its vehicles with the hike going as high as Rs1.16 million.

The price of Corolla 1.6 CVT has been hiked from Rs5.369 million to Rs5.749 million, an increase of Rs380,000. Corolla 1.8 CVT is now priced at Rs6.07 million after an upward price revision of Rs430,000.

The biggest increase was seen in the prices of the Fortuner range. Fortuner Diesel Legender witnessed a price hike of Rs1.16 million and it will now be available at Rs17.07 million

Toyota Yaris 1.3 MT saw a price surge of Rs260,000 as its rate rose from Rs3.819 million to Rs4.079 million.

Yaris 1.5 CVT’s price has been jacked up by Rs320,000, and it would be now available at Rs4.929 million.

On January 12, IMC also raised car prices across its entire lineup in the range of Rs280,000-Rs1.21 million.

The new RSP (retail selling price) will be effective on all new orders booked after January 12, 2023, the latest notification said.

IMC said economic uncertainties and the extreme volatility in value of rupee against dollar had adversely impacted the cost of manufacturing of the company.

“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.

The company added that the increase in prices are subject to change and prices prevailing at the time of delivery shall continue to be applicable on all orders.

“Any change in government levies and taxes (including FED, Sales Tax, CVT etc.), tariff, fiscal policies, import policies, etc. will be on account of the customer,” the company said.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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