The Toyota Indus Motor Company (IMC) recorded its highest sales in 28 years last month and took to social media on Monday evening to announce that it had sold 6,775 vehicles in July, which is its highest sales figure since 1993.
Analysts and car enthusiasts have speculated that the increase in sales is largely due to the recent reduction in the prices of vehicles and a decrease in the rate of interest in auto financing. It is also believed that the reduction in taxes and duties for automakers has allowed them to scale up their production of vehicles.
Last month, Toyota IMC sold 4,535 units and recorded a Month-on-Month sales decrease of only three percent because of the drop in sales of the Yaris Sedan and the Hilux Pickup truck. However, Yaris still remains the most popular sedan in the market in terms of demand and has possibly played a massive role in the resurgence of the Toyota IMC.
Although the official sales figures of all the automakers are yet to be released by the mainstream media outlets, it can be stated with absolute certainty that with the recent price reductions attributed to the new auto policy, Pakistan’s auto industry is likely to record huge sales figures and post huge profits, particularly for July 2021.