Indus Motor increases vehicle prices

Rise in excise duty, high input prices cited as reasons.

KARACHI:

Indus Motor Company (IMC) has said the government’s decision to increase federal excise duty (FED) by 1.5 per cent has resulted in an upward revision in prices of several variants.

According to a statement issued by IMC, the FED hike will cause an increase of up to Rs25,000 in prices of Toyota Corolla and Toyota Altis, Rs10,000 in prices of Daihatsu Cuore variants and up to Rs25,000 in prices of Toyota Hilux variants.

“Customers taking delivery of cars from March 16 onwards will have to pay the increase, regardless of them booking vehicles prior to the decision,” it said.

Additionally, it said, rising input prices and a rapidly depreciating currency have forced the company to increase prices of Daihatsu Cuore by Rs35,000 and Rs45,000 for manual and automatic variants, and Rs20,000 and Rs25,000 for Hilux 4X2 and Hilux 4X4 variants, respectively.

Published in The Express Tribune, March 17^th, 2011.