Industry

Rupee Depreciation; IMC Increases Car Prices

Karachi, October 19, 2018: After assessing the situation, IMC on Tuesday has announced revised prices for vehicles on which bookings will resume from 17th October.

Customers who have paid full payment for orders of Oct / Nov will get cars on the same prices as the company will absorb the added cost. However, customers who have made partial payments for Oct / Nov / Dec will have to give 50% of the added cost.

The statement said, “The recent depreciation in Pak Rupee’s value against the dollar has resulted in substantial cost increase on account of C&F, Government Duties & Taxes, imported components and raw materials for local parts. It is extremely difficult for IMC to hold the current retail selling prices and therefore we are compelled to pass on a part of this exchange impact to the market.”

For November to December, Corolla Prices have increased in the range of PKR 50,000 to 100,000 and the prices of IMV variants have been increased in the range of PKR 125,000 and 175,000

“Our policy is always to take orders on partial payments and we discourage customers to give orders on full payments.” said the statement.

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