News Desk |
Toyota Indus Motors is dropping yet another increment bomb on its customers with an expected price jack of up to PKR 350,000 on its variants. According to the circular making rounds on social media revealing price increase, the difference in new prices of variants for November and December is between 50,000 (lowest) to 175,000 (highest).
The company has given different prices for bookings or deliveries that will be made between October and December 2018. And from January onwards, the price structure will change once again.
Once the situation stabilizes, the company will resume order and bookings with the announcement of new prices, the notice read.
Further, according to the terms and conditions quoted on an online automotive publication the customers who are to get their cars delivered in October, and November 2018 and have made the partial payment at the time of booking will have to pay 50% of increased Retail Sale Price (RSP); however, the new RSP will not be applied to those who have made full payment at the booking time.
And for the December bookings, the 50% of the new RSP will be applied to both partial and full payment. The fourth price jack this year is creating an outrage but this time, the circumstances may be justified as the rupee devaluation stacked up against the dollar has had an impact on almost every consumer product.
Earlier this month, The Indus Motor Company had halted the bookings of the vehicle over the speedy depreciation in Pak rupee’s value by 7.5 percent in one go which resulted in substantial increase in the cost of components and raw materials for local parts. The announcement was made in a ‘Public Notice’ received from the auto dealers.
It notified the general public that Indus Motor has topped order bookings for a few days, due to the recent depreciation in Pakistan Rupee value, which has resulted in substantial cost increase on account of C&F (cost and freight), government duties and taxes, imported components, and raw materials for local parts.
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The company is in the process of evaluating the impact of the same. Once the situation stabilizes, the company will resume order and bookings with the announcement of new prices, the notice read.