KARACHI: Indus Motor Company (IMC) Wednesday enhanced the prices of Corolla Altis 1.8 CVT cars in Pakistan once again. The company compelled to hike the prices of its vehicles owing to the forex fluctuations and cost of manufacturing.
Earlier two days, the IMC announced to hike the prices of Corolla 1.6 CVT (Special Edition) and three variants of Toyota Hilux Revo up to Rs 700,000.
In the last notification, the company claimed. “In addition, the uncertainties in forex fluctuations, increase in utilities and overheads have also impacted the cost of manufacturing; thus IMC is compelled to pass on some impact to the market.”
The company notification said, the new price of Corolla Altis 1.8 CVT is Rs 5.639 million compared to the old Rs 5.269 million. The company has increased by Rs 370,000 on its one brand.
The new ex-factory price will be effective on all new orders on or after November 29, 2022.
In a notification, the company said “due to economic uncertainties and inflation in raw material cost, the vendor cost of production has signification increased.” “In addition, the volatile situation of Forex, increase in utilities and overheads have also impacted the cost of manufacturing for IMC.”
“Thus, this situation has made it extremely difficult for Indus Motor to hold the current retail selling prices, and therefore, we are compelled to pass on some impact to the market,” the statement read.
All Corolla 1.8 CVT orders as of November 28, 2022, will be invoiced as per previous price, with full payment paid on or before December 20, 2022. The prices are exclusive of transportation, transit insurance charges, etc.
The customer will pay any impact on prices due to changes in Forex, government levies (including FED, CVT), tariff fiscal policies, import policies, etc.
The price is ex-factory Karachi, per unit inclusive of 17 per cent Sales Tax, applicable FED, 1 per cent, CVT, and Dealer’s Commission.