KARACHI: Despite the low cost of import on account of the rupee’s recovery against the dollar in the last one and a half months, Indus Motor Company (IMC) has increased prices by Rs190,000-700,000.

In the last week of September, one dollar was trading at Rs240 but it plunged to Rs214-215 after Ishaq Dar was made finance minister.

IMC, in its letter to the authorised dealers, said the vendor cost of production has significantly soared due to economic uncertainties and inflation in the raw material cost. In addition, uncertainty in currency fluctuation, and increase in utilities and other overheads have also impacted the cost of manufacturing.

The new price of Toyota Corolla 1.6 CVT and 1.6 CVT U/S is Rs4.979 million and Rs4.789mn, up by Rs190,000 and Rs200,000, respectively.

Hilux 4x2 standard, U/S, Deckless, 1.2TR, 4x4 and III Standard now carry a price of Rs5.959m, Rs5.989m, Rs5.529m, Rs5.739m, Rs7.879m and Rs9.069m, showing a jump of Rs400,000-620,000.

Published in Dawn, November 19th, 2022