Due to the prevailing loss of value by Rupee and its devaluation, has been cited by Toyota as the reason behind increasing the prices of its cars. Indus Motor Company has increased the prices of vehicles for the third time and previously the two price hikes were also the result of the devaluation of Rupee.
Due to no sign of improvement in the value of local currency, many other auto manufacturers have also increased the process of their vehicles many times to accommodate the loss of value in terms of currency.
Effective from March 2018 the Indus Motor Company had raised the prices up to almost Rs.300000 and now the new prices are subject to the discussion than when these will be effective. Although, it is being speculated that new prices will be effective from 1 July 2018.
Rise in Toyota Car Prices in Pakistan will even cause some of the vehicles prices to increase by as much as Rs.1.9 million.
Honda is also expected to increase its fleet prices and follow the strategy of motor giant Toyota in the wake of rupee devaluation. The prices of bikes have already been increased by Atlas Honda some time ago and now the prices of cars will also get the rise as expected.