Indus Motor Company (IMC) has raised the prices of the Toyota Corolla (2 variants) and Toyota Revo. According to a notification, the vendor manufacturing cost has significantly increased due to economic concerns and escalation in raw material costs. “In addition, the uncertainties in Forex fluctuations, increases in utilities and overheads have also influenced the cost of manufacture, therefore IMC is constrained to pass on some effect to the market,” according to the announcement.
Toyota Corolla Price Increase
The company raised the pricing of two variants: The company has increased the prices of two variants:
• The first is the Corolla 1.6 CVT, which has a new price of Rs. 4,979,000 against the previous cost of Rs. 4,789,000, representing a Rs. 190,000 rise.
• The second variation is the Corolla 1.6 CVT (Special Edition), which now costs Rs. 5,479,000 instead of Rs. 5,279,000, a Rs. 200,000 increase.
Toyota Revo Price Changes
Toyota Revo prices have been increased as follows:
• The first, Toyota Hilux, has witnessed a price increase of Rs. 620,000, with a new price of Rs. 9,069,000 compared to Rs. 8,449,000.
• The Toyota Hilux Revo G 2.8 is next, with a revised price of Rs. 9,839,000, up from Rs. 9,169,000, a Rs. 670,000 rise.
•The Toyota Hilux Revo G Automatic 2.8, which was previously priced at Rs. 9,609,000, will now cost Rs. 10,309,000, an increase of Rs. 700,000.
Terms and Conditions
• These are ex-factory pricing that will go into effect on November 17, 2022.
• All outstanding IMV orders with full payment received by November 25, 2022 will be billed at the former pricing.
• On March 22, April 29, and August 15, 2022, all IMV outstanding orders approved according to pricing circulars will be billed at their respective approved rates.
• The revised pricing for the Corolla 1.6 CVT and CVT SE will be applicable on all orders as of November 16, 2022, with the exception of the order list published with the announcement on October 27, 2022.
• As of November 16, all Corolla orders with full payments made by July 15, 2022 in accordance with the terms and dates as per the pricing circulars dated March 22, April 29, and August 15, 2022 must pay the set price differential of Rs. 300,000, inclusive of 1% Capital Value Tax, by November 25, 2022.
• The rates do not include transportation, transit insurance, or other fees.