Car prices have been consistently increasing over the past few years, with automakers making frequent announcements about hikes every month. The latest in this trend is the Toyota Indus Motor Company (IMC), which has raised the prices of both locally assembled and imported cars. The reason cited by the company for this revision is the recent general sales tax (GST) hike. Effective as of March 10, the new prices have been announced.
Model | Old Price (Rs.) | New Price (Rs.) |
Increase (Rs.) |
Yaris GLI MT 1.3 | 4,316,000 | 4,499,000 | 183,000 |
Yaris GLI CVT 1.3 | 4,588,000 | 4,789,000 | 201,000 |
Yaris ATIV MT 1.3 | 4,558,000 | 4,759,000 | 201,000 |
Yaris ATIV CVT 1.3 | 4,790,000 | 4,999,000 | 209,000 |
Yaris ATIV X MT 1.5 | 4,911,000 | 5,429,000 | 518,000 |
Yaris ATIV X CVT 1.5 | 5,213,000 | 5,769,000 | 556,000 |
Corolla Altis X MT 1.6 | 5,576,000 | 6,169,000 | 593,000 |
Corolla Altis 1.6 X CVT-i | 6,111,000 | 6,769,000 | 658,000 |
Corolla Altis 1.6 X CVT-i SE | 6,716,000 | 7,429,000 | 713,000 |
Corolla Altis 1.8 X CVT | 6,423,000 | 7,119,000 | 696,000 |
Corolla Altis Grande X CVT-11.8 Beige | 6,998,000 | 7,759,000 | 761,000 |
Corolla Altis Grande X CVT-i1.8 Black | 7,039,000 | 7,759,000 | 760,000 |
Revo G MT | 11,184,000 | 12,409,000 | 1,225,000 |
Revo G AT | 11,728,000 | 13,019,000 | 1,291,000 |
Revo V AT 2.8 | 12,969,000 | 14,389,000 | 1,420,000 |
Revo V AT Rocco | 13,675,000 | 15,179,000 | 1,540,000 |
Fortuner 2.7 G Petrol | 14,230,000 | 15,809,000 | 1,579,000 |
Fortuner 2.7 V Petrol | 16,297,000 | 18,099,000 | 1,802,000 |
Fortuner 2.8 Sigma 4 Diesel | 17,175,000 | 19,079,000 | 1,904,000 |
Fortuner Legender Diesel | 18,112,000 | 20,129,000 | 2,017,000 |
In February 2022, Toyota recorded a significant decline in sales. According to the latest update from Autojounal.pk, the company only sold 1,803 cars last month, which is the lowest sales figure since June 2020, when only 547 vehicles were sold due to the challenges caused by the COVID-19 pandemic.
The report attributes this decline to the intermittent production halts and the unavailability of completely knocked down (CKD) kits. The automakers have also blamed the reluctance of the State Bank of Pakistan (SBP) to approve letters of credit (LCs) for the clearance of imported goods.
With the recent price hike by Toyota, the decline in sales is expected to worsen in the coming weeks.