Indus Motor delivers up to Rs1.2m price hike.

KARACHI -- Despite a 30-59 per cent drop in sales of various models due to unfavourable economic conditions that led to plant closure from Dec 20-30, 2022, Indus Motor Company (IMC) has surprised its buyers by jacking up the prices by Rs280,000 to Rs1.2 million.

In another development, Millat Tractors Ltd (MTL) has decided to resume its operations from Jan 16. It had suspended production from Jan 6 till further notice due to a continuously reduced demand for tractors and cash flow constraints.

On Friday, IMC in a circular to its authorised dealers said that high raw materials prices had significantly increased vendors' cost of production. In addition, the volatile situation of the country's foreign exchange reserves, rising utilities and overheads also impacted the manufacturing cost, thus compelling the company to pass on some impact to the market.

The new rate of Toyota Yaris 1.3MT, 1.3 CVT. 1.3 HMT, 1.3 HCVT, 1.5MT and 1.5 CVT is Rs3.819m, Rs4.069m, Rs4.039m, Rs4.239m, Rs4.339m and Rs4.609m compared to Rs3.539m, Rs3.769m, Rs3.729m, Rs3.929m, Rs4.009m and Rs4.259m.

The prices of Toyota Corolla 1.6MT, 1.6 CVT, 1.6 CVT Upspec, 1.8 CVT SR and 1.8 CVT SR BLK have been raised to Rs4.939m, Rs5.369m, Rs5.909m, Rs6.169m and Rs6.209m from Rs4.569m, Rs4.979m, Rs5.479m, Rs5.709m and Rs5.749m.

Millat Tractors resumes production from 16th; Suzuki extends shutdown

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