Toyota Reduces Car Prices By Up To Rs. 1.3 Million

Introduction

Indus Motor Company (IMC), the assembler of Toyota vehicles in Pakistan, has made a significant announcement that will surely delight car enthusiasts. The company has decided to pass on the benefits of the appreciation of PKR against the US dollar to the consumers. As a result, Toyota has reduced the prices of its cars by up to Rs. 1.3 million. This move comes as a relief for many potential buyers who were eagerly waiting for a price cut in the highly competitive automobile market.

New Prices

The new prices, which came into effect on October 24, 2023, are as follows:

• Toyota Yaris
  • Old Price (Rs.): 4,499,000 – 5,969,000
  • New Price (Rs.): 4,399,000 – 5,849,000
  • Price Reduction (Rs.): 100,000 – 120,000
• Toyota Corolla
  • Old Price (Rs.): 6,169,000 – 7,799,000
  • New Price (Rs.): 5,969,000 – 7,549,000
  • Price Reduction (Rs.): 200,000 – 250,000
• Toyota Hilux Revo
  • Old Price (Rs.): 11,439,000 – 16,149,000
  • New Price (Rs.): 11,039,000 – 15,359,000
  • Price Reduction (Rs.): 400,000 – 790,000
• Toyota Fortuner
  • Old Price (Rs.): 15,809,000 – 21,089,000
  • New Price (Rs.): 14,499,000 – 19,899,000
  • Price Reduction (Rs.): 1,310,000 – 1,190,000

Reason Behind the Price Reduction

Toyota, like many other car manufacturers in the country, has been facing inventory shortages. To tackle this issue, the automaker recently decided to shut down its plant for a month, from October 17 to November 17, 2023. Despite the massive improvement in the US Dollar exchange rate, the price reduction is not proportional. However, it is still a welcome move for consumers who have been eagerly waiting for a price drop.