The 2020-21 fiscal budget has caused every auto-manufacturer in Pakistan to revise the prices of their vehicles. In a surprise to no one, Toyota Indus Motor Company has also bumped up the price of the 2020 Hilux double cabin.
Many other automakers blamed the depreciation of the local currency as the key reason for price hike, but for Toyota, there’s a bit more to that story. A few weeks ago, the government stated in full disclosure that new FED rates shall be imposed on the double cabin as they are, “Intended for commercial use but people use them as a luxury vehicle.”
As per the aforementioned news, 7.5% FED is to be imposed on the locally manufactured crew-cab trucks and 25% to be imposed on the imported crew-cab trucks, which bumps up the prices of these vehicles significantly. Here’s the revised price list for the 2020 Toyota Hilux Crew-Cabin variants:
|Models||Old Price (PKR)||Revised Price (PKR)||Price Difference (PKR)|
|IMV III STD||5,499,000/-||5,912,000/-||413,000/-|
|REVO G MT||5,899,000/-||6,342,000/-||443,000/-|
|REVO G AT||6,199,000/-||6,664,000/-||465,000/-|
|REVO V AT||6,549,000/-||7,041,000/-||492,000/-|
Like other car companies, this is Toyota’s 2nd price bump this year, with the last revision in April 2020. With the depreciation of dollar affecting every single company in the industry, it’s only of matter of time before all automakers increase the prices of their lineup.
Toyota IMC and its rivals have not yet announced the revised prices for the rest of their cars, following the budget, but with the increase in the price of Hilux and other vehicles occurring just a few days ago, it appears that the price revision for other vehicles is imminent.
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