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Expected New Prices of Toyota Cars After the Mini-Budget 2022

Expected New Prices of Toyota Cars After the Mini-Budget 2022

Expected New Prices of Toyota Cars After the Mini-Budget 2022

Expected New Prices of Toyota Cars After the Mini-Budget 2022

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Following the announcement of pricing increases by Pak Suzuki Motor Company (PSMC), more companies are expected to follow suit very soon. However, PSMC’s latest price rise has confirmed that the hikes are due to increased Federal Excise Duty (FED) and Sales Tax rates.

The impact of these increased tariffs, which were implemented after the mini-budget was approved, is expected to be reflected in car pricing across the board. As a result, Toyota Indus Motor Company (IMC) expects the following price increases vs domestically produced cars:

CarsCurrent Price (Rs.)Expected Price (Rs.)Absolute Difference (Rs.)% Difference
Yaris GLI MT 1.3           2,549,000           2,611,171             62,1710.024
Yaris ATIV MT 1.3           2,679,000           2,744,341             65,3410.024
Yaris GLI CVT 1.3           2,749,000           2,816,049             67,0490.024
Yaris ATIV CVT 1.3           2,849,000           2,918,488             69,4880.024
Yaris ATIV XMT 1.5           2,899,000           2,969,707             70,7070.024
Yaris ATIV XCVT 1.5           3,099,000           3,174,585             75,5850.024
Corolla X Manual 1.6           3,299,000           3,379,463             80,4630.024
Corolla Automoatic 1.6           3,449,000           3,533,122             84,1220.024
Corolla X CVT-I 1.8           3,779,000           3,871,171             92,1710.024
Corolla X Auto 1.6 – SE           3,779,000           3,871,171             92,1710.024
Corolla Grande XCVT-I 1.8
– Biege
           4,079,000           4,178,488             99,4880.024
Corolla Grande XCVT-I 1.8
– Black
           4,099,000           4,198,976             99,9760.024
Hilux REVO G MT           6,789,000           6,946,884           157,8840.023
Hilux REVO G AT           7,139,000           7,305,023           166,0230.023
Hilux REVO V AT           7,849,000           8,031,535           182,5350.023
Fortuner 2.7 G           8,179,000           8,568,476           389,4760.048
Fortuner 2.7 V           9,489,000           9,940,857           451,8570.048
Fortuner 2.8 Sigma 4           9,919,000         10,391,333           472,3330.048
Fortuner Legender         10,349,000         10,841,810           492,8100.048

Toyota IMC announced its most recent price rise in November 2021, owing to the huge depreciation of the Pakistani Rupee versus the US Dollar, increasing freight charges, and rising raw material costs, according to business CEO Ali Asghar Jamali.

In response to the finance ministry’s proposal to raise taxes on domestically produced cars in December, Jamali criticised the government’s policymaking while emphasising that the automobile industry requires a concrete and long-term policy that allows for continuous expansion.

The new tax rates have caused mayhem in the auto sector, generating issues for both automobile consumers and manufacturers. The mini-budget is proving to be a double-edged sword in that it reduces imports while limiting the impact on car production and sales volume.

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Suzuki Raises Car Prices in Pakistan
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Pak Suzuki Motor Company (PSMC) announced a rise in car prices, which...

 

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