Indus Motor Company (IMC) has increased prices of 1.3 and 1.6 liter Toyota Corolla variants by Rs 50,000 to 60,000 ahead of the new year.
The new price of Toyota Corolla XLi is Rs 1.81 million, which was previously Rs 1.75 m. GLi and GLi automatic are now priced at Rs 1.94m and Rs 2.02m compared to previous Rs 1.88m and Rs 1.96m respectively. The new price of 1.6 Altis has been jacked up to Rs 2.19m from Rs 2.14m.
The company’s CEO, Ali Asghar Jamali, attributed the price hike to approx 8% rupee devaluation against the dollar which has pushed up prices of imported components.
He said that due to the devaluation of the rupee, the cost of locally produced components, which have imported raw material, has also gone up owing to losing strength of the rupee.
Atlas Honda and Pak Suzuki are also expected to increase the prices of their products in coming days.
|Variant||Old Price||New Price|
|Xli 1.3||PKR 17.59 lac||PKR 18.19 lac|
|Gli M/T 1.3||PKR 18.89 lac||PKR 19.49 lac|
|Gli A/T 1.3||PKR 19.64 lac||PKR 20.24 lac|
|Altis 1.6||PKR 21.49 lac||PKR 21.99 lac|