Two cars from Toyota: Yaris and Vios, have received quite a lot of praise for the cars that they are. Mid-range vehicles with comfortable driving experience and not breaking the bank. Considering the two options, Toyota decided to bring Yaris to Pakistan. The reason being the international price of Vios going upto about Rs28 Lakh, while the Yaris comes in at a cheaper Rs19 Lakh. This could be the optimal choice because of the current price hikes of cars that have resulted in a huge drop in car sales.
Reports have claimed that the car is already being tested on Pakistani roads and have been spotted on the M2 Motorway camouflaged in a zebra coating.
The price hike and the crumbling rupee against the dollar has seen companies change their business plans and with the introduction of Hyundai, Proton and Kia, Toyota believes that they need to put something cheaper on the floors of the showrooms to get in more customers because as of now they might just be losing their current ones with Corolla prices reaching north of Rs40 Lakhs.
The executive of IMC has a saying about the matter
The steep increase in car prices after currency devaluation as well as the imposition of Advance Customs Duty (ACD) on all imports and Federal Excise Duty (FED) on assembled cars has left us no option but to cut down the plant production.
Tough times are here and we must bear through them. Although, IMC (Indus Motor Company), responsible for Toyota cars in Pakistan closed its manufacturing plant for 12 days in the month of July to protest the increased prices of cars but it bear no fruit. The company is now turning to introducing cheaper cars that might be their way out of this hole.