Toyota IMC Announces A Massive Price Hike
While the value of the rupee has been on the freefall for the past couple of weeks, it was evident that the automotive industry would go through another wave of price hikes. Kia and Hyundai have been quick to jump on the bandwagon, but others are catching up.
At midnight on the 28th, we received the circular regarding the updated prices which came into effect on the same day. While the price hike was evident, the increase is too big for the Pakistani consumers. Here’s a breakdown of each Toyota model:
The new price of the base variant of Yaris, the GLI MT 1.3 is now Rs. 3,799,000. This was previously 3,039,000, and so the difference comes out to be Rs. 760,000.
The price of Yaris GLI CVT 1.3 has gone from Rs. 3,324,000 to Rs. 4,039,000, registering an increase of Rs. 760,000.
The new price of the Yaris ATIV MT 1.3 is Rs. 3,999,000, jumping Rs. 760,000 from Rs. 3,329,000.
The price of Yaris ATIV CVT 1.3 has gone from Rs 3,309,000 to Rs. 4,209,000, registering an increase of Rs. 760,000.
Similarly, the Yaris ATIV X MT 1.5 has gone from 3,449,000 to Rs. 4,309,000, jumping Rs. 860,000.
And finally, the top-of-the-line ATIV X CVT 1.5 will now cost a whopping Rs. 4,569,000. Its previous price was Rs 3,659,000, and so the increase comes out to be Rs. 910,000.
The Corolla Altis X Manual 1.6 is now priced at Rs. 4,899,000 going from a Rs. 3,909,000, registering an increase of Rs. 990,000.
The Corolla Altis X Automatic 1.6 will now cost Rs.5,139,000, which was previously Rs. 4,099,000. Thus registering an increase of Rs, 1,040,000.
Similarly, the Altis X 1,6 SE which was previously priced at Rs. 4,509,000, is now priced at Rs. 5,639,000, jumping Rs. 1,130,000 in price.
The Altis X CVT-i 1.8 which previously cost Rs. 4,495,000 will now cost Rs. 5,679,000.
The Altis Grande X CVT-i 1.8 (Beige Interior), which previously cost Rs. 4,859,000, will now cost of Rs. 6,149,000, registering a massive increase of Rs. 1,290,000.
Lastly, the beige interior version of the Altis Grande X will now cost a whopping Rs. 6,189,000, jumping Rs. 1,290,000 over its previous price of Rs. 4,899,000.
The Hilux line up of Toyota has also registered a missive increases.
Starting the Hilux E, which previously cost Rs. 7,359,039,000 is now priced at Rs. 9,039,000. Thus, registering an increase of Rs 1,680,000.
The Hilux Revo G Manual 2.8, which previously cost Rs. 7,989,039,000 is now priced at Rs. 9,819,000. Thus, registering an increase of Rs 1,830,000.
And the Hilux Revo G Automatic 2.8, which previously cost Rs. 8,379,039,000 is now priced at Rs. 10,299,000. Thus, registering an increase of Rs 1,920,000.
The Revo V Automatic 2.8 which previously cost Rs. 9,229,000 is now priced at Rs. 11,349,000. Thus, registering an increase of Rs 2,120,000.
Lastly, the much sought after Hilux Revo Rocco, which was previously priced at Rs. 9,729,000, has a new price of Rs. 11,999,000.
Lastly, the Fortuner line-up went through the biggest price increase.
The base variant of Fortuner, the 2.7 G which was previously priced at Rs. 9,959,000, will now cost Rs. 12,489,000.
Then comes the Fortuner 2.7 V which was previously priced at Rs. 11,459,000, will now cost Rs. 14,279,000. Thus, registering an increase of Rs. 2,820,000.
The third variant the Fortuner 2.8 Sigma 4, which was previously priced at Rs. 11,459,000, will now cost Rs. 15,069,000. Thus, registering an increase of Rs. 3,030,000.
Lastly, the Fortuner Legender recorded the biggest jump in terms of price. It went from Rs. 12,679,000.
We believe that the price hike is massive, and too difficult for the consumers to cope with. This price hike came after Toyota IMC has issued a heartfelt notice to its customers regarding booking and delivery statuses.
The automaker has announced a 100% refund policy for customers who wish to cancel their orders. The automaker will also pay a mark-up, which will be considered from the date of receipt of payment till the date of cancelation of the order.
No administrative charges will be implemented on the customer.