Toyota Car Prices Increase March 2023

11 Mar 2023

1496 Toyota

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 %
Toyota Yaris 1.3 MT LO	4,316,000	4,499,000	183,000	4.24%
Toyota Yaris 1.3 CVT LO	4,588,000	4,789,000	201,000	4.38%
Toyota Yaris 1.3 MT Hi	4,558,000	4,759,000	201,000	4.40%
Toyota Yaris 1.3 CVT Hi	4,790,000	4,999,000	209,000	4.36%
Toyota Yaris 1.5 MT	4,911,000	5,429,000	518,000	10.56%
Toyota Yaris 1.5 CVT	5,213,000	5,769,000	556,000	10.64%
Toyota Corolla 1.6 MT	5,576,000	6,169,000	593,000	10.63%
Toyota Corolla 1.6 CVT	6,111,000	6,769,000	658,000	10.77%
Toyota Corolla 1.6 CVT SR	6,716,000	7,429,000	713,000	10.61%
Toyota Corolla 1.8 CVT	6,423,000	7,119,000	696,000	10.83%
Toyota Corolla 1.8 CVT SR	6,998,000	7,759,000	761,000	10.87%
Toyota Corolla 1.8 CVT SR BLK	7,039,000	7,799,000	760,000	10.79%
Toyota Revo V AT 2.8	12,969,000	14,389,000	1,420,000	10.94%
Toyota Revo V AT Rocco	13,675,000	15,179,000	1,504,000	10.99%
Toyota Fortuner 2.7 G Petrol	14,230,000	15,809,000	1,579,000	11.10%
Toyota Fortuner 2.7 V Petrol	16,297,000	18,099,000	1,802,000	11.05%
Toyota Fortuner 2.8 Sigma 5 Diesel	17,175,000	19,079,000	1,904,000	11.08%
Toyota Fortuner Legender Diesel	18,112,000	20,129,000	2,017,000	11.14%