Indus Motor cars become costlier by up to Rs830,000

Company notified in advance any impact on prices will be on account of customer

KARACHI: Indus Motor, the makers of Toyota vehicles, has hiked prices from Rs230,000 to Rs830,000 from July 1, 2019 for the current and new orders, according to a company notice sent to distributors.

The Japanese carmaker raised the price of IMV1 4x2 STD from Rs3.074 million to Rs3.449 million, an increase of Rs375,000, while the price of IMV1 4x2 D/L went up from Rs2.819 million to Rs3.159 million.

Similarly, the variant IMV1 4x2 U/S became costlier from Rs3.104 million to Rs3.479 million, according to the company notice. Model IMV1 4x4 saw an increase of Rs520,000 to Rs4.85 million and IMV III DC STD saw an increase of Rs530,000 to Rs5.25 million.

Variant Revo GMT had a new price tag of Rs5.599 million compared to the previous price of Rs5.009 million. Likewise, Revo GAT price jumped from Rs5.239 million to Rs5.899 million and Revo VAT price rose Rs690,000 to Rs6.249 million.

Indus Motor increases vehicle prices

The company jacked up the price of Fortuner 4x4 Diesel from Rs7.819 million to Rs8.649 million, a jump of Rs830,000. The automaker increased the price of XLI MT from Rs2.109 million to Rs2.499 million, XLI AT from Rs2.184 million to Rs2.599 million, GLI MT from Rs2.364 million to Rs2.749 million and GLI AT from Rs2.439 million to Rs2.849 million.

Indus Motor jacked up the price of Altis 1.6 from Rs2.674 million to Rs3.149 million.The company also increased the price of Grande CVT SR surged from Rs3.409 million to Rs3.699 million, a jump of Rs290,000.

These are ex-factory Karachi prices per unit inclusive of 17% sales tax and dealer's commission, according to the notice, while 5% federal excise duty (FED) on all Corolla variants and 7.5% FED on Fortuner variants will be applied as per current Finance Bill 2019.

The company had notified in advance that if there was any impact on prices due to changes in government levies post-Finance Act 2019 implementation (including FED and customs duty), tariffs, fiscal policies, import policies, etc, it will be on account of the customer.

Published in The Express Tribune, June 29^th, 2019.

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