KARACHI: During a recent financial briefing, Toyota Indus Motor Company has assured that the Hybrid Electric Vehicle plant development was in progress with no deviation from the original plan.
The Toyota company stated that in Q2FY-2023, Toyota posted a profit of Rs. 1,331 million, which is down by 72 percent compared to the same period of the previous year. It added that at the same time, Company sales have gone down 52 percent in Q2FY-2023 compared to the same period last year.
Toyota’s stance
Toyota stated the decline is mostly due to the State Bank of Pakistan’s restrictions on the import of completely knocked-down kits. Yet, the company claims that the Hybrid Electric Vehicle assembly plant is on schedule, which means that Corolla Cross may actually debut this year.
In December 2022, a reliable source privy to the information said that the significant structural and mechanical developments on the Toyota Corolla Cross Hybrid are complete. The company is now working on the car’s fit and finish.
He added that the automaker has started working on the vehicle’s nameplates, badges, and fitments. The source stated that Toyota is moving full steam ahead and aims to launch the Corolla Cross in H1 2023. However, the company is yet to corroborate this claim officially.
