Both KIA and Toyota suspended taking new bookings of their cars last month. Now, Toyota has once again stopped taking new bookings for all variants across Pakistan. According to the company, an unstable economy and volatile market conditions are to blame for the suspension of bookings.
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New Toyota Car Prices in Pakistan
Are Economic Instability and Volatile Market Conditions the Culprit?
The market conditions and economy are significant concerns for automotive manufacturers in Pakistan. The new government hasn’t been successful in stabilizing the economy, especially controlling inflation, etc.
However, what affects the auto industry in Pakistan the most is the fluctuation of forex.
Toyota has been around for more than 30 years, and despite decades of localization, many important parts are still imported. These imported parts are the reason why car prices fluctuate so much. This along with rising freight charges keeps pushing the car prices up in Pakistan.
The Fate of Already Booked Toyota Cars?
According to the company, the pre-booked cars will be delivered as scheduled. However, we suspect that the company might demand the difference in booking price and the new car price on the delivery date.
As mentioned earlier, last month both Toyota and KIA suspended the bookings of their cars. Soon after the resumption of bookings, we witnessed a substantial increase in their car prices. We have already seen this trend growing among other auto manufacturers as well – suspend bookings, create demand, and then increase prices.
What do you think – Will this suspension of booking be grounds for another price increase in Pakistan? Let us know in the comments below.
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