The company stated that in Q2FY2023, Toyota posted a profit of Rs. 1,331 million, which is down by 72% compared to the same period last year. It added that at the same time, Toyota’s sales have gone down 52% in Q2FY2023 compared to the same period last year.
Toyota stated that the decline is mostly due to the State Bank of Pakistan’s (SBP) restrictions on the import of completely knocked-down (CKD) kits. Yet, the company claims that the HEV assembly plant is on schedule, which means that Corolla Cross may actually debut this year.
In December, a reliable source privy to the information told ProPakistani that the major structural and mechanical developments on the Toyota Corolla Cross Hybrid are complete and that the company is now working on the car’s fit and finish.
He added that the automaker has started working on the car’s nameplates, badges, and fitments. The source stated that the company is moving full steam ahead and aims to launch the Corolla Cross in H1 2023. Although, the company is yet to officially corroborate this claim.