KARACHI: Indus Motor Company (IMC) has increased prices of various vehicles by Rs230,000-830,000 effective from July 1 following the bouts of rupee devaluation and imposition of federal excise duty (FED) in the range of 2.5-7.5pc in the budget 2019-20.

The prices of Toyota Corolla XLI MT and XLI AT have been raised to Rs2.499 million and Rs2.599m, up Rs390,000 and Rs415,000, while GLI MT and GLI AT by Rs385,000 and Rs410,000 to Rs2.749m and Rs2.849m respectively.

Altis 1.6 price has been raised by Rs475,000 to Rs3.149m.

Prices of Altis 1.8MT, Altis 1.8CVT, Grande MT SR and Grande CVT SR prices have been jacked to Rs3.299m, Rs3.449m, Rs3.449m and Rs3.699m from Rs3.069m, Rs3.205m, Rs3.260m and Rs3.409m respectively.

Fortuner 4x4 and Fortuner 4x2 Petrol saw the highest price hike of Rs830,000 and Rs700,000 to Rs8.649m and Rs7.999m, while prices of Revo GMT, Revo GAT and Revo VAT were surged by Rs590,000, Rs660,000 and Rs690,000 to Rs5.599m, Rs5.899m and Rs6.249m respectively.

Furthermore, prices of Hilux variants were raised by Rs340,000-530,000.

The company said the new prices would be applicable on all deliveries from July 1 and include 17 per cent sales tax and dealers’ commission, 5pc FED on all Corolla variants and 7.5pc FED on Fortuner variants (applied as per the Finance Bill 2019).

Prior to this, Honda Atlas Cars Limited (HACL) had increased prices of various vehicles by Rs260,000-Rs425,000 from June 24 due to negative exchange rate impacts.

Published in Dawn, June 29th, 2019