LAHORE The Indus Motor Company has announced to reduce the prices of its different models by Rs 15,000 to Rs 40,000 per vehicle. According to a press release reached here on Wednesday, the company said that it has reduced the prices of Daihatsu Cuore and Toyota Corolla, to be effective from Wednesday (Dec 29, 2010). The spokesperson added that over last several months IMC has made major capital investments amounting Rs 2 billion in the Phase II of Press Shop project and also in the engine assembly and testing facilities. These projects are now reaching implementation and start up stage that enables the company to pass the benefits of enhanced localization and assembly to the customers, accruing from these projects. The price reduction will be valid on all orders, received after Dec 29. The new selling price of the popular Corolla Xli will be Rs 1,337,000, down from Rs 1,354,000 and the new price of Gli will be Rs 1,462,000 from the previous price of Rs 1,479,000. Altis MT price will be reduced by Rs 35,000; Altis AT will be reduced by Rs 40,000. Daihatsu Cuore prices will be reduced by Rs 15,000 across the range of vehicles. It may be recalled that the auto industry and the government have been in dialogue over car prices for some time.