Business

Corolla price increased by Rs50,000 in four months

Automatic Altis with sunroof to now cost Rs2 million.

Our Correspondent June 23, 2012

KARACHI:

Indus Motor Company (IMC) has increased the price of the country’s largest selling car Toyota Corolla on Saturday, making it the second price increase this year.

The new price of Corolla GLi automatic transmission is Rs1.82 million against Rs1.78 million in February, resulting in an increase of Rs51,500.

The price of the high-end variant Corolla Altis automatic transmission with sunroof has crossed the Rs2 million mark, data shows.

The revised prices take into account the steep depreciation of the rupee, which has devalued by 5.5% against the US dollar and 3% against the Japanese yen in the past five months, says a press statement issued by the country’s second largest car assembler.

Toyota Corolla sales have increase by 9% to 41,720 units on improved agricultural income in the first eleven months of the current financial year.

The revised prices of Corolla XLI will be Rs1.53 million, Rs1.65 million for Corolla 2.0D, Rs1.90 million for Corolla Altis manual, Rs1.99 million for Corolla Altis (manual transmission with sunroof), Rs1.99 million for Corolla Altis (automatic transmission), Rs2.08 million for Corolla Altis (automatic transmission with sunroof, Rs1.76 million for Hilux 4x2 (standard), Rs 1.80 mllion for Hilux 4x2 (UP-Spec), Rs1.78 million for Hilux 4x2 (Police), Rs2.87 million for Hilux 4x4 (Std MT), Rs3.17 million for Vigo Champ (manual transmission), Rs3.37 million for Vigo Champ (automatic).

Meanwhile, the airmobile player also announced embracing Euro II emission standards and started installing catalytic convertor in all Corolla variants. Catalytic convertor is a device that converts engine fumes into less harmful substances.

The company’s move is in line with the government’s decision to implement Euro-II emission standards to decrease the amount of hazardous vehicle exhaust emissions, adds the press release.

“We remain committed to adopting greener technologies and in the process will continue to offer low carbon mobility solutions to our customers in Pakistan,” the company said.

Published In The Express Tribune, June 24^th, 2012.