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Toyota Car Prices Increase March 2023

11 Mar 2023   1473   Toyota
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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