Toyota announces major price cut for Yaris variants

KARACHI: Toyota Indus Motor Company has unveiled huge discounts on its Yaris 1.5 ATIV X CVT models in Pakistan on the occasion of its 35th anniversary.

As per the information provided, the discount on black interiors was set at Rs. 400,000; thus, the ex-factory cost decreased from Rs. 6,449,000 to Rs. 6,049,000.

On the other hand, the discount for the model with beige interior was Rs. 390,000. Therefore, the price of this variant decreased from Rs. 6,389,000 to Rs. 5,999,000.

This reduced pricing was confirmed to be available temporarily, depending on the availability of stock in dealerships.

This price revision came soon after Hyundai Nishat Motors launched its Elantra 1.6L Special Edition with an ex-factory price tag of Rs. 6,449,000.

It can be noted that this discount made the Yaris 1.5 ATIV X CVT variants competitive with the newly launched special edition of the Elantra.

Earlier in April, Leading automobile company Toyota Indus Motors announced a major reduction of Rs 2.5 million in the price of the petrol variants of Toyota Fortuner for the second time in five months.

The company is calling this move a 35th anniversary special offer; however, auto industry experts say that such a huge reduction in a premium vehicle is unusual, and the changing market situation may be behind it.

The company has announced a reduction of Rs 2.5 million 4 thousand in the price of the “G” petrol variant of Fortuner, after which the price of the vehicle has come down from Rs 14.9 million 39 thousand to Rs 12.4 million 35 thousand.

Similarly, the price of the Fortuner’s “V” petrol variant has been reduced by Rs 2.574 million to Rs 14.935 million, while earlier this vehicle was being sold for Rs 17.59 million.

Experts say that such a huge reduction in the price of a premium SUV indicates that factors such as reduced demand, rising inflation and reduced purchasing power of consumers are affecting the market.