Indus Motor Company on Saturday revised prices of all Toyota Corolla cars which will be effective from October 19.
Prices of all Corolla cars have been increased by Rs30000. The price of Toyota Corolla XLi was raised to Rs.1269000 compared to previous price Rs1239000. Toyota Corolla GLi’s new price would be Rs1384000 while Toyota Altis would cost Rs1669000 against previous Rs1639000. Toyota Altis S/R would be sold for Rs1754000 and Toyota Altis A/T would cost Rs1839000 compared to the previous price of Rs1809000.
Head of Research at Invest Cap, Khurram Shahzad, said the demand of Toyota Corolla was very high due to its quality and after the government bought a large number of cars for police and other government departments, creating shortage of the brand.
That was the reason for the price increase while other factor was a 9 per cent appreciation of the yen against the rupee since the start of FY10, he said. “Cost pressure is also likely to aggravate due to weak dollar and in turn higher steel prices.” That might have an impact on sales of Toyota Corolla in the future which might decrease.
All Pakistan Motor Dealers Association Chairman HM Shahzad, commenting on the increase in prices, said the government had given relaxation to auto assemblers in the auto policy with the removal of federal excise duty in July and they were supposed to reduce prices of cars for the benefit of consumers.
He said semi-knocked down (SKD) and completely knocked down (CKD) kit prices all over the world had fallen and similarly steel and other raw material prices had also gone down.
“It is expected that Pak Suzuki and Honda will also increase prices of their vehicles in the near future,” he added. In September, overall auto (cars and light commercial vehicles) sales fell 10 per cent month-on-month with car sales down 4 per cent because of low activity in the month of Ramazan and less working days on account of Eid holidays.
Indus Motor’s sales declined by 15 per cent largely due to a drop in Corolla sales which stood at 2,655 units compared to 3,172 units in August, down 16 per cent. Corolla had an 86 per cent share in Indus sales in the first quarter of FY10. The News report
Prices November 2011
1.6 Corolla GLi A/T
1.6 Corolla Altis M/T
1.6 Corolla Altis M/T SR
1.6 Corolla Altis A/T
1.6 Corolla Altis A/T SR
Toyota Corolla – 2.0D
Toyota Corolla – 2.0D SN
Toyota Corolla – 2.0D SN SR