Indus Motor Company (IMC) has increased the prices of 1.3 and 1.6 liter Toyota Corolla variants by Rs 50,000 to 60,000 at the forefront of the new year.The new price tag of Toyota Corolla XLi is Rs 1.81 million, that was formerly Rs 1.75 m. GLi and GLi automatic now have a price tag of Rs 1.94m and Rs 2.02m which was previously Rs 1.88m and Rs 1.96m respectively. The new price of 1.6 Altis has been perked up to Rs 2.19m from Rs 2.14m.
Ali Asghar Jamali, The Company’s CEO, ascribed the price hike to approximately 8% rupee devaluation against the dollar which has pushed up prices of imported components.
He uttered that because of the devaluation of the rupee, the cost of locally produced components that have imported raw material, has also gone up due to losing strength of the rupee.
Atlas Honda and Pak Suzuki are also anticipated to add to the prices of their products in coming days.
- Xli 1.3: PKR 17.59 lac, now PKR 18.19 lac
- Gli M/T 1.3: PKR 18.89 lac, now PKR 19.49 lac
- Gli A/T 1.3: PKR 19.64 lac, now PKR 20.24 lac
- Altis 1.6: PKR 21.49 lac, now PKR 21.99 lac