Toyota’s biggest ever price hike up to 3.1 million is seen in country after recent inflation hike in Pakistan in 2nd quarter of 2022.
Following Kia’s headliner, Toyota Indus Motor Company (IMC) announced to increase exceptional prices for all domestically built vehicles.
As decreasing Pakistani currency, the payload expended is increasing other than this it is also affected because by raise in material costs.
The firm has raised prices for the first time in a year whereas, it’s the highest increase till yet.
As predicted by Ali Asghar Jamali, Toyota IMC CEO increased the prices of their vehicles which is also expected by the other automakers.
Moreover, it’s a serious production crisis for the whole auto industry due to which the delayed clearance of the letter of credit for the import of CKD kits.
All the concerns taken together, the auto industry is impacted badly. Toyota’s biggest ever price hike up to 3.1 million.
The auto industry is going to be severely impacted by all of these concerns taken together.
The primary reasons behind price hikes are political uncertainty, economic instability, and declining of the rupee, currently fragile conditions in Pakistan.
The unstable dollar rates in Pakistan and vulnerable economic state in Pakistan are causing high inflation rates in history.
The rising inflation in Pakistan is also affecting the prices of vehicles in Pakistan.
Other major vehicle brands in Pakistan such as Changan, Honda, Suzuki, etc. have also announced huge increase in vehicles are Dollar has risen up to 250 that is highest in history.
