Toyota Indus Motor Company (IMC) has raised the price of one of its best-selling vehicles yet again. Toyota has raised the price of the Corolla Altis 1.8 CVT by Rs. 370,000.
Following that raise, the price of the Corolla Altis 1.8 CVT has soared from Rs. 5,269,000 to Rs. 5,639,000, putting it in the crossover SUV category.
The company has justified the ongoing price increases by pointing to the ongoing economic unrest. In this regard, an official statement is as follows:
“The volatile situation of Forex, increase in utilities and overheads have also impacted the cost of manufacturing for IMC. Thus, this situation has made it extremely difficult for IMC to hold the current retail selling prices, and therefore, we are compelled to pass on some impact to the market.”
Toyota IMC raised the prices of a few other car variants over a week ago, citing the same justification. The following are the new prices:
ModelOld PriceNew PricePrice DifferenceCorolla 1.6 CVTRs. 4,789,000Rs. 4,979,000Rs. 190,000Corolla 1.6 CVT Special EditionRs. 5,279,000Rs. 5,479,000Rs. 200,000HiluxRs. 8,449,000Rs. 9,069,000Rs. 620,000Hilux Revo G 2.8Rs 9,169,000Rs. 9,839,000Rs. 670,000Hilux Revo G 2.8 AutomaticRs. 9,609,000Rs. 10,309,000Rs. 700,000
Since January 2022, Toyota has increased the prices of all of its cars by 32–37%. The additional price increase is a major shock to Toyota enthusiasts.
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