Toyota Motors Company has increased its car prices for the second time in about a month. The company claims that due to sudden political instability and devaluation of currency it is difficult to continue with the current retail selling prices.
Moreover, each model has been affected by the price hike as the rupee depreciation against the dollar immensely increases the costs of production and raw material.
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Similarly, the prices of all six variants of Toyota Corolla in Pakistan have been revised. The price of Corolla Altis X Manual 1.6 is Rs. 3,909,000 compared to its previous selling price of Rs. 3,749,000, with a price difference of Rs. 160,000. Likely, Corolla Altis X Automatic 1.6 has also experienced a price hike of Rs. 170,000 with the new price of Rs. 4,099,000 compared to Rs. 3,929,000, previously.
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The price of the third variant, Corolla Altis X Automatic 1.6 Special Edition (SE), has also increased up to Rs. 4,509,000 with a jump of Rs. 200,000. Furthermore, Corolla Altis X CVT-i 1.8, now costs Rs. 4,499,000, against previous Rs. 4,299,000. The Corolla Altis Grande X CVT-i 1.8 (Beige Interior) and Corolla Altis Grande X CVT-i 1.8 (Black Interior) costs Rs. 4,859,000 and Rs. 4,899,000 respectively.
The prices of all the models of Toyota Yaris have also been updated by the company. The Yaris GLI MT 1.3 costs Rs. 3,039,000, with a difference of Rs. 140,000. Similarly, Yaris ATIV MT 1.3, also experienced a hike of Rs. 150,000 compared to the previous selling price of Rs. 3,059,000. The new price of Yaris GLI CVT 1.3 is Rs. 3,249,000 against the last rate of Rs.3, 109,000. Likewise, the new price of Yaris ATIV CVT 1.3, is Rs. 3,449,000. Furthermore, Yaris ATIV X MT 1.5 costs Rs. 3,449,000 after the difference of Rs. 160,000. Lastly, Yaris ATIV X CVT 1.5 now costs Rs. 3,659,000 compared to the old rate of Rs. 3,499,000.
In addition to the Toyota Corolla and Yaris, the variants of Revo and Fortuner are also revised after the recent price hike. The new price of Hilux E is Rs. 7,359,000 after an increase of Rs.300, 000. Likely, the Hilux Revo G Manual 2.8, has also experienced a jump of Rs. 330,000, corresponding to the previous price of Rs. 7,659,000. Moreover, the revised price of the Hilux Revo G Automatic 2.8 is Rs. 8,379,000. Additionally, the new rates of Hilux Revo V Automatic 2.8 and Hilux Revo Rocco price are Rs. 9,229,000 and Rs. 9,729,000 respectively.
The 2.7G Fortuner 2.7 G now cost Rs. 9,959,000 against its previous price of Rs. 9,499,000. Likely, the Fortuner 2.7 V has been updated with a price hike of Rs. 510,000 and Fortuner 2.8 Sigma 4, has experienced an increase of Rs. 550,000. Lastly, the Fortuner Legender now costs Rs. 12,679,000 against the previous price of Rs. 12,099,000.
Conclusively, the recent price hikes in Toyota motors are due to the current political crisis in the country and the devaluation of the Pakistani currency against the dollar exchange rate. Therefore, this has resulted in the cost of production and assembling as well as an increase in the import of raw materials.