Karachi (Agencies): The Indus Motor Company (IMC) has made a massive increase in prices of all its vehicles.
The company has raised prices following the recent round of rupee devaluation.
According to a notification, prices have been increased ranging from Rs50,000 to Rs175,000 for November and December deliveries and Rs100,000 to Rs350,000 for deliveries from January 2019 onwards.
Indus Motor announced that it will be observing 100% impact for deliveries for which full payment has been made and are scheduled for October and November.
The company said that it will also bear 50% of the price increase for deliveries tentatively scheduled for November and December.
Toyota has increased Corolla XLI price by Rs50,000 and the variant will see a price hike of another Rs50,000 in January, first raising its cost to Rs1.994 million and then eventually crossing the two-million mark with a tag of Rs 2.044 million in January.
Prices of other Corolla variants have been raised in a range of Rs50,000 to Rs100,000, which will double in January.
Meanwhile, IMV-4 4X4 has become more expensive by Rs175,000 with a price of Rs6.624 million while it will get another equivalent shot in January taking the cost to Rs6.799 million.
Other variants of the model have also faced a price hike between Rs125,000 to Rs150,000, which will double in January.