The company in a recent financial briefing assured that the Hybrid Electric Vehicle (HEV) plant development is in progress with no deviation from the original plan.
Moreover, IMC stated that in the second quarter of Fiscal Year 2023, Toyota posted a profit of Rs1,331 million, which is down by 72% compared to the same period last year. At the same time, the company’s sales went down by 52% in the second quarter of Fiscal Year 2023 against last year.
Furthermore, the company stated that the decline is mostly due to import restrictions by the State Bank of Pakistan (SBP). The restriction of importing completely knocked-down (CKD) kits has largely affected the industry.
Despite all the hurdles, the company claims that the HEV assembly plant is on schedule, and the Corolla Cross is about to launch this year in Pakistan.
According to official sources, the major structural and mechanical developments on the Toyota Corolla Cross Hybrid are complete, and the company is now working on the car’s fit and finish.
Additionally, the automaker has started working on the car’s nameplates, badges, and fitments. Likewise, the company is moving full steam ahead and aims to launch the Corolla Cross in H1 2023.
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