Toyota Cars Prices Increasing Again

Toyota Cars Prices Increasing Again from 2018

Recently, it is heard from official sources that Ali Asghar Jamali CEO of Toyota Indus Motors has made an announcement that they will increase the prices of their entire Toyota cars range due to the devaluation of Pakistani rupee against Japanese Yen and US dollar from December 2017.

Toyota to Increase Prices Again

PAAPAM (Pakistan Association of Automotive Parts and Accessories Manufacturers) collaborated with Toyota Indus Motors to conduct the yearly Industry workshop. CEO of Indus Motors said that there is a six percent devaluation in the Pakistani rupee value. He also said that we will increase the prices soon for the consumers of Pakistan as to keep the prices same are getting difficult. Within the last three months this year, Toyota Indus Motors will be increasing their car prices for the second time. Furthermore, recently Pak Suzuki also have increased their car prices for the second time in the duration of last three months. Suzuki cars are second on the list in the most selling cars in Pakistan.

Toyota Model

Old Price (PKR)

New Price (PKR.)

Toyota Xli

17,59,000

18,19,000

Toyota Gli 1.3

19,49,000

20,24,000

Toyota Altis 1.6

21,49,000

21,99,000

Toyota Altis 1.8

23,99,000

24,39,000

Toyota Altis 1.8 Grande

25,49,000

25,89,000

The increase in the prices started right after the government allowed the Pakistani rupee to devalue by 5% against the US dollar last year in December 2017. The rise in the prices of the automobiles has not affected the demand for new and advanced features automobiles in Pakistan. Moreover, the automakers are also investing a handsome amount in the automobile industry to improve the quality of their entire automobile range. CEO of Toyota Indus Motors has invested four billon to increase its production by 20%, which means that by the second quarter of the current year 2018 they will be able to produce 75,000 units. Jamali said that they have procure one hundred and fifty million worth of local parts on daily basis from their local vendors which is worth forty billion annually.

Jamali when talking about Corolla said that it is their flagship brand which is ranked on the 23rd position among 170 countries. Furthermore, having the highest sales in the Asia Pacific region it ranked on the 4th place all across the world. With the commitment of IMC to serve Pakistan, Jamali said that IMC is a devoted promoter of “Make in Pakistan”. One hundred and fifty million locally produced parts are being used by IMC on daily basis with a massive purchase of forty billion on annual purchases.