Business

KARACHI — Renowned auto manufacturer Toyota Indus Motors Company has increased the price of its various vehicles from Rs75,000(lowest) to Rs175,000 (highest).

The company has issued an official letter to its dealerships in this regard and new price surge will be effective from 3rd January 2019.

Here are the updated prices

Model New Price in Rs Old Price in Rs Difference in Rs
Corolla XLI M/T 2,044,000 1,944,000 100,000
Corolla XLI A/T 2,119,000 2,069,000 50,000
Corolla GLI M/T 2,299,000 2,224,000 75,000
Corolla GLI M/T Special Edition 2,373,000 2,316,000 57,000
Corolla GLI A/T 2,374,000 2,299,000 75,000
Corolla Altis 1.6 2,574,000 2,474,000 100,000
Corolla Altis 1.8 MT 2,689,000 2,589,000 100,000
Corolla Grande MT-SR 2,864,000 2,764,000 100,000
Corolla Grande CVT-SR 2,999,000 2,899,000 100,000
Hilux 4×2 S/C Standard 2,929,000 2,804,000 125,000
Hilux 4×2 Single Cab (Up Spec) 2,959,000 2,834,000 125,000
Hilux 4×2 Single Cab Deckless 2,674,000 2,549,000 125,000
Hilux 4×4 Standard 4,159,000 4,009,000 150,000
Hilux Double Cab Standard 4,549,000 4,399,000 150,000
Hilux Revo G 2.8 4,859,000 4,709,000 150,000
Hilux Revo G AT  2.8 5,089,000 4,939,000 150,000
Hilux Revo V AT  2.8 5,399,000 5,274,000 125,000
Fortuner 4×2 HI Petrol 6,399,000 6,249,000 150,000
Fortuner 4×2 Diesel 6,799,000 6,624,000 175,000

The customers are also be required to pay a withholding tax (WHT) of Rs150,000 on the variants of Hilux 4×4 S/C STD, Rs200,00 on Hilux Revo (G-MT and V-AT) and Fortuner.

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The surge in price is due to the devaluation of the rupee. In simple terms, not all parts of the cars are manufactured locally, so the automakers are forced to import parts from foreign vendors, which due to the devaluation of the rupee have now become expensive.