The price reduction came at a time when costs of doing business were rapidly increasing, according to the company. PHOTO: FILE
The decision to cut vehicle prices has been taken following recent strengthening of the rupee against the dollar in order to pass the benefit on to customers, a press release said.
Prices of Xli/Gli variants have been reduced by Rs50,000 while prices of Altis variants have been cut by Rs75,000. Similarly, prices of Hilux range of pickups have been reduced by Rs10,000 to Rs30,000.
Prices of Corolla Xli standard have been slashed by Rs89,000. “We have taken the industry’s first initiative to reduce prices by up to Rs75,000,” the company said.
The price reduction came at a time when costs of doing business were rapidly increasing due to energy crisis and challenging law and order situation that drove up security costs and risks, it added.
“We appreciate the government’s move to stabilise the rupee as it pledged earlier,” said Ali Asghar Jamali, IMC’s Chief Operating Officer. “Full benefits of the strengthening rupee have yet to set in for the industry, however, we are immediately passing the benefits on to consumers,” he said.
Established in 1992, IMC is a joint venture of the House of Habib, Toyota Motor Corporation and Toyota Tsusho Corporation.
Published in The Express Tribune, March 21st, 2014.
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COMMENTS (11)
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I'm guessing that's the real Ishaq Dar, judging by the grammatical errors. Can't expect anything but from our top brass.
The new shape is not too smart better pick up a cheaper older model than buy a sensor filled corolla ...
very good step now other item must reduce price of 10%
Dear Khan Saheb, If you wish to reject every good thing that is happening in Pakistan and crib about it - that's your personal choice. One must look at half glass full and do whatever they can in personal capacity (individually or collectively) to bring much needed positive change. Already there is so much hatred around ... Learn to appreciate good things and you will feel better ... trust me :)
Thank you for correcting my English ... do you give regular lessons/tutions?? I am really interested ... how much do you charge if I may ask??
Dear Mr. Ishaq Dar,
Precisely my point. We did not see any decrease in any other product because this is not how its done and everyone knows the real reason of rupee strengthening and everyone knows it will bounce back in no time. This is indeed only to reduce inventory of old/obsolete model.
Further, it is did we SEE and not did we SAW
What a pack of lies. This is a marketing gimmick only to get rid of inventory as rightly pointed out by Osman. The new model is being launched in August this year and then nobody will buy the old model.
We as a nation have gotten into this really bad habit of looking at everything with a suspicion or to criticize everything. We think its our birth right ... this is a good move from the industry and one must appreciate them. Did we saw any decrease in other product prices like bread, milk, sugar, medicines, mobiles, cement etc?? NO So instead we should appreciate this step and hope that it will encourage others to do the same.
ID
Still the prices are too expensive.
Perhaps this initiative is merely to off load old inventory as new model will be introduced shortly.
when its too good to be true, it is! Indus is dumping old stock because its near to launch new shaped Corolla! they should come up with open policy instead of sham gimmicks.