Toyota Car Prices Increase March 2023

Toyota Car Prices Increase March 2023
The federal government has recently imposed a 25% General Sales Tax (GST) on high-priced items, including certain vehicles, as confirmed by the Federal Board of Revenue (FBR) through a sales tax notification under SRO 297(1)/2023. This tax category encompasses all locally produced or assembled SUVs and CUVs, even those with engine displacement less than 1400cc, resulting in an anticipated increase in prices. Toyota has acknowledged that economic uncertainties and the highly volatile PKR to USD exchange rate have negatively impacted IMC manufacturing costs, making it difficult to maintain current retail prices. Therefore, they must pass on some of the impacts to the market. Additionally, the Government of Pakistan issued a Statutory Regulatory Order (S.R.O. 297(I)/2023) on March 8, 2023, increasing the Sales Tax rate to 25% on all CKD vehicles with engine capacity of 1400cc and above (excluding IMV-I Single Cabin) in accordance with the Sales Tax Act 1990.

New Toyota Car Prices
All CKD variants produced by the car assembler have witnessed a price increase. Below are the revised Indicative RSPs (Ex-Factory Karachi) for the vehicles:
New Prices for Yaris
•Toyota Yaris 1.3 MT LO now costs Rs. 4,499,000(old price: Rs. 4,316,000)
•Toyota Yaris 1.3 CVT LO now costs Rs. 4,789,000(old price: Rs. 4,588,000)
•Toyota Yaris 1.3 MT Hi now costs Rs. 4,759,000(old price: Rs. 4,558,000)
•Toyota Yaris 1.3 CVT Hi now costs Rs. 4,999,000(old price: Rs. 4,790,000)
•Toyota Yaris 1.5 MT now costs Rs. 5,429,000(old price: Rs. 4,911,000)
•Toyota Yaris 1.5 CVT now costs Rs. 5,769,000(old price: Rs. 5,213,000)
New Prices for Corolla
•Toyota Corolla 1.6 MT now costs Rs. 6,169,000 (old price: Rs. 5,576,000)
•Toyota Corolla 1.6 CVT now costs Rs. 6,769,000 (old price: Rs. 6,111,000)
•Toyota Corolla 1.6 CVT SR now costs Rs. 7,429,000 (old price: Rs. 6,716,000)
•Toyota Corolla 1.8 CVT now costs Rs. 7,119,000 (old price: Rs. 6,423,000)
•Toyota Corolla 1.8 CVT SR now costs Rs. 7,759,000 (old price: Rs. 6,998,000)
•Toyota Corolla 1.8 CVT SR BLKnow costs Rs. 7,799,000 (old price: Rs. 7,039,000)
New Prices for Revo
• Toyota Revo V AT 2.8 now costs Rs. 14,389,000 (old price: Rs. 12,969,000)
• Toyota Revo V At Rocconow costs Rs. 15,179,000 (old price: Rs. 13,675,000)
New Prices for Fortuner
• Toyota Fortuner 2.7 G Petrol now costs Rs. 15,809,000 (old price: Rs. 14,230,000)
• Toyota Fortuner 2.7 V Petrol now costs Rs. 18,099,000 (old price: Rs. 16,297,000)
• Toyota Fortuner 2.8 Sigma 5 Diesel now costs Rs. 19,079,000 (old price: Rs. 17,175,000)
• Toyota Fortuner Legender Diesel now costs Rs. 20,129,000 (old price: Rs. 18,112,000)
Model | Old Price | New Price | Difference | Increase % |
4,316,000 | 4,499,000 | 183,000 | 4.24% | |
4,588,000 | 4,789,000 | 201,000 | 4.38% | |
4,558,000 | 4,759,000 | 201,000 | 4.40% | |
4,790,000 | 4,999,000 | 209,000 | 4.36% | |
4,911,000 | 5,429,000 | 518,000 | 10.56% | |
5,213,000 | 5,769,000 | 556,000 | 10.64% | |
5,576,000 | 6,169,000 | 593,000 | 10.63% | |
6,111,000 | 6,769,000 | 658,000 | 10.77% | |
6,716,000 | 7,429,000 | 713,000 | 10.61% | |
6,423,000 | 7,119,000 | 696,000 | 10.83% | |
6,998,000 | 7,759,000 | 761,000 | 10.87% | |
7,039,000 | 7,799,000 | 760,000 | 10.79% | |
12,969,000 | 14,389,000 | 1,420,000 | 10.94% | |
13,675,000 | 15,179,000 | 1,504,000 | 10.99% | |
14,230,000 | 15,809,000 | 1,579,000 | 11.10% | |
16,297,000 | 18,099,000 | 1,802,000 | 11.05% | |
17,175,000 | 19,079,000 | 1,904,000 | 11.08% | |
18,112,000 | 20,129,000 | 2,017,000 | 11.14% |
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