Get prepared to see another increase in car prices starting from New Year. According to our information, automakers are preparing to revise prices of the vehicles effective from the 1st of January 2020.
While Pak Rupee may have recovered by 5.5% during the last few months, car prices in Pakistan never went down, although they were too quick to increase when the Rupee declined ever marginally. Now the latest increase in price might surprise many, since there has been no additional duty or tax imposed by the government.
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Car sales in Pakistan are experiencing an upsetting decline ever since the beginning of this fiscal year. Furthermore since buyers are reluctant to purchase vehicles towards the end of year, sales remained subdued, however car sales are likely to regain momentum from the beginning of next year. Thus automakers are planning to revise prices effective from the 1st of January which will help them dampen their declining profits.
According to our information, Suzuki vehicles might see an increase from Rs 30,000 to up to Rs 90,000 with hot selling Alto VXL AGS reaching PKR 15.98 lac, Bolan at PKR 10.99 lac & Swift DLX Auto at PKR 21.4 lac to name a few. Similarly the prices of 1.3 liter Toyota Corolla variants which contributes towards the bulk of sales might get pushed by up to Rs 40,000 whereas expensive slow-sellers such as Fortuner, Hilux Revo & Altis Grande will see an increase of up to Rs 10,000. Other high-end automakers including Audi are also expected to revise the prices of their imported range of vehicles.
Announcement regarding the price increase is expected to be made in coming days, however the above mentioned price information is received by us from unofficial sources while final price increase may differ from those mentioned above. Whether or not, automakers in Pakistan decide to implement this price increase, we will have to wait to find out.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com