KARACHI, Nov 2: Indus Motor Company (IMC) has increased the price of two models of Cuore cars by Rs10,000-20,000. Cuore CL and CX models will now be available at ex-factory price of Rs359,000 and Rs419,000 as compared to Rs349,000 and Rs399,000 respectively.

The company, in a statement, claimed to have maintained the introductory price of Cuore since its relaunch in September 2001 despite yen appreciation against rupee by almost 10 per cent. Input cost has also risen due to escalating steel prices, increase in duty on vendor components from 25 to 35 per cent and soaring of exchange rates. Value additions such as crystal headlights were introduced and price was maintained.

IMC said that the recent currency fluctuation has resulted in amplified input cost which has led to overall increase in cost of production per unit.

The company is subsidising the price increase so that a bare minimum impact is passed on to the consumers.