Good bargain: Indus Motor announces price reduction
Decision taken following strengthening of the rupee.
The price reduction came at a time when costs of doing business were rapidly increasing, according to the company. PHOTO: FILE
KARACHI:
Indus Motor Company (IMC), the makers of Toyota Corolla, has announced a reduction in its vehicle prices up to Rs75,000.
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.
Indus Motor Company (IMC), the makers of Toyota Corolla, has announced a reduction in its vehicle prices up to Rs75,000.
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.