Dec 112011
 

11-12-2011

Increasing utility expenses and record depreciation in Pakistani rupee, which in last month only has depreciated by almost 5 percent against Japanese Yen (from 1.0980 to 1.152) and 4 percent US$ (from 86 to 89) has forced the Indus Motor Company (IMC) to marginally increase the retail prices of Corolla, Cuore and Hilux variants with immediate effect.

According to the IMC statement, prices have been increased by around 1.5 percent only on account of very steep decline in Pak Rupee against US$ and Japanese Yen, which is making the imported CKD kits and local vendor parts more costly as the raw materials of vendors are also imported. Continue reading “Islamabad: Indus Motors increases car prices” »

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