Indus Motor Company (IMC) has preserved a fine-looking profit increase of 19 percent in the quarter of July to September 2017, chiefly by reason of the boost in sales of its flagship car, Toyota Corolla, and Toyota Fortuner.
As per the financial outcome, the company created a profit of Rs. 3.62 billion in the first quarter of 2017-18when evaluated with Rs. 3.04 billion in the equivalent period last year.
Further than the sales of the cars, the company hiked the prices of its diverse models at the beginning of the quarter by equal to Rs. 160,000, which in addition rooted in the growth in its revenues and productivity.
The shareholders of the company are quite contended with the financial performance of the company that once more pronounced 300 percent (Rs. 30 per share) interim bonus for its shareholders at the closing stages of the first quarter of 2017-18. The earnings per share too grew to Rs. 46.17 from Rs. 38.77.
Sales of Toyota Brands
As per data from Pakistan Automobile Manufacturers Association (PAMA), IMC sold 12,765 units of Toyota Corolla from July to September 2017, that depicts that its sales are 110 units superior than same period of last year for this predominantly model.
Toyota Fortuner eyewitnesses an imposing growth in sales and requirement as the company sold 792 units from July to September, which illustrates a boost in sales of 647 units evaluated with last year.
Toyota Hilux sales saw a slight drop this year. IMC sold 1,530 units in the July to September evaluated with 1,585 units sales last year, spectating a fall of 55 units in the sales of this model.
The sales of Toyota brands counting, Corolla, Fortuner and Hilux, will persist to keep hold of the elevated demand and sales in the local market, predominantly after influence of the current imposition of Regulatory Duties on passenger cars and severe circumstances of imports for SUV and vehicles above 1800 CC engine capacity.
The hindrance in deliveries of the vehicles will stay a key subject if the construction capacity of the plants is not brought up with the growth of local demand. In the end, the threat of unprofessional conduct will triumph in the local market and customers will carry on paying additional money to the local dealers for the purchases.