Toyota Announces Massive Price Hikes for Corolla, Yaris and More

Toyota Indus Motor Company (IMC) has increased the prices of its locally assembled vehicles for the third time in four months. The company has cited rising freight charges and material costs as the reason for the increase.

Like Al-Haj automotive, Toyota IMC will impose the new prices in the following sequence:

Those who booked cars before the price hike will pay 50 percent of the increase in price.

Also Read: Hyundai Elantra 1.6L is Launching Next Month

While the people who booked or will book new Toyota cars after the price hike will pay 100 percent of the increase in price.

Effective immediately, the new prices are as follows:
Variants               Old Price (Rs.)    Revised Price for Old Bookings (Rs.)        Revised Price for New Bookings (Rs.)      Increase (Rs.)
Toyota Yaris
1.3 Gli M/T          2,612,000             2,755,500             2,899,000             287,000
1.3 Gli CVT           2,817,000             2,963,000             3,109,000             292,000
1.3 ATIV M/T      2,745,000             2,902,000             3,059,000             314,000
1.3 ATIV CVT      2,919,000             3,074,000             3,229,000             310,000
1.5 ATIV X M/T  2,970,000             3,129,000             3,289,000             319,000
1.5 ATIV X CVT   3,175,000             3,337,000             3,499,000             324,000
Toyota Corolla
Altis 1.6 M/T       3,380,000             3,564,500             3,749,000             369,000
Altis 1.6 A/T        3,534,000             3,731,500             3,929,000             395,000
Altis SE 1.6 A/T  3,892,000             4,100,500             4,309,000             417,000
Altis 1.8 CVT       3,872,000             4,085,000             4,299,000             427,000
Altis 1.8 Grande CVT       4,179,000             4,414,000             4,649,000             470,000
Altis 1.8 Grande CVT Black Interior           4,199,000             4,444,000             4,689,000             490,000
Toyota Hilux
Revo G 2.8 M/T 6,947,000             7,303,000             7,659,000             712,000
Revo G 2.8 A/T  7,306,000             7,667,500             8,029,000             723,000
Revo V 2.8 A/T  8,030,000             8,435,500             8,839,000             807,000
Revo Rocco         8,472,000             8,895,500             9,319,000             847,000
Toyota Fortuner
Fortuner G A/T 8,569,000             9,034,000             9,499,000             930,000
Fortuner V A/T  9,941,000             10,445,000           10,949,000           1,008,000
Fortuner Sigma 4 A/T     10,392,000           10,940,500           11,489,000           1,097,000
Fortuner Legender          10,842,000           11,842,500           12,099,000           1,257,000

During a quarterly performance review earlier this week, CEO of Toyota Indus Motor Company (IMC) Ali Asghar Jamali said that amid the mounting pressures of global logistical challenges, increasing freight costs, and depreciating local currency, the price hikes are unavoidable.

He stated:

The company is trying to pend the price hikes at least till June 2022. However, the company is still reviewing this plan and will reach a final decision within a week in this regard.

True to his forecast, Toyota IMC did increase the prices of its vehicles by a huge margin. This hike will prompt other automakers to increase their car prices as well.

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