Tag: Auto market

  • Toyota car prices reduced by up to Rs1.3 million in Pakistan

    Toyota car prices reduced by up to Rs1.3 million in Pakistan

    Indus Motor Company, the leading assembler of Toyota-brand vehicles in Pakistan, has made a significant move to benefit its customers. 

    In a recent announcement sent to its dealers on Tuesday, the company revealed a substantial reduction in car prices, effective October 24. This decision was prompted by the recent strengthening of the Pakistani rupee against the US dollar.

    Following this development, the basic Yaris model 1.3MT LO is now more affordable, with a price decrease of Rs100,000, or 2.2 per cent, bringing its new price to Rs4.399 million. 

    Similarly, the top variant, 1.5 CVT Aero, will now be available at Rs5.849 million after a reduction of Rs120,000. 

    The Toyota Corolla’s variant prices have been reduced between Rs200,000 and Rs250,000. Furthermore, Toyota’s pickup Revotrucks are now more budget-friendly, with price reductions ranging from Rs450,000 to Rs790,000.

    One of the most notable changes is seen in the Fortuner G4x2 Petrol STD, which will now be priced at Rs14.499 million after a substantial reduction of Rs1.31 million, or 8.3 per cent.

    This price adjustment follows the footsteps of other major players in the industry, including MG Motors and Lucky Motor Corporation (LMC), both of which have also announced price reductions for their vehicles.

    The automobile sector in Pakistan has faced challenges recently, mainly due to fluctuating exchange rates and restrictions on imports. 

    The rupee experienced a significant depreciation against the dollar, reaching a record low of Rs307.1 on September 5. 

    However, it has since recovered, stabilising around the Rs279–280 level. This positive trend aligns with the efforts of the caretaker government, which took measures against smugglers and hoarders, contributing to the currency’s recovery.

    Apart from currency fluctuations, the auto sector was affected by previous government policies, including import restrictions aimed at preserving foreign exchange reserves. 

    Additionally, higher finance costs and a considerable rise in car prices led to a decrease in consumer demand. In the first quarter of FY24, car sales in Pakistan plummeted to 20,983 units, marking a 40 per cent decline compared to the same period the previous year.

    Here are the latest prices of all Toyota cars in Pakistan:

    Car Model Variant Old Price (Rs.) New Price (Rs.) Price Reduction (Rs.)
    Yaris 1.3 MT LO 4,499,000 4,399,000 100,000
      1.3 CVT LO 4,789,000 4,689,000 100,000
      1.3 MT Hi 4,759,000 4,659,000 100,000
      1.3 CVT Hi 4,999,000 4,899,000 100,000
      1.3 CVT Aero 5,199,000 5,099,000 100,000
      1.5 MT 5,429,000 5,309,000 120,000
      1.5 CVT 5,769,000 5,649,000 120,000
      1.5 CVT Aero 5,969,000 5,849,000 120,000
    Corolla 1.6 MT 6,169,000 5,969,000 200,000
      1.6 CVT 6,769,000 6,559,000 210,000
      1.6 CVT SR 7,429,000 7,189,000 240,000
      1.8 CVT 7,119,000 6,889,000 230,000
      1.8 CVT SR 7,759,000 7,509,000 250,000
      1.8 CVT SR BLK 7,799,000 7,549,000 250,000
    Hilux Revo E 11,439,000 11,039,000 400,000
      G 12,409,000 11,959,000 450,000
      G 13,019,000 12,549,000 470,000
      V AT 2.8 14,389,000 13,849,000 540,000
      V AT Rocco 15,179,000 14,419,000 760,000
      GR S 16,149,000 15,359,000 790,000
    Fortuner 2.7 G Petrol 15,809,000 14,499,000 1,310,000
      2.7 V Petrol 18,099,000 16,999,000 1,100,000
      2.8 Sigma 5 Diesel 19,079,000 17,999,000 1,080,000
      Legender Diesel 20,129,000 18,999,000 1,130,000
      GRS 21,089,000 19,899,000 1,190,000
  • Here’s why United Bravo flopped in Pakistan despite being cheap

    Here’s why United Bravo flopped in Pakistan despite being cheap

    United Motors introduced the 800cc Bravo hatchback in Pakistan back in 2018, soon after Pak Suzuki officially announced discontinuing the wildly popular 3-decades old Suzuki Mehran.

    The car was seen as a ‘better replacement’ for the Suzuki Mehran as it came with many interesting features, including an interior with a wooden touch that was actually made of plastic, a dual gauge speedometer, three-spoke steering, alloy rims, power windows, power steering, and keyless entry.

    Due to its features and relatively contemporary looks, it was believed to perform well in Pakistan.

    However, even after more than five years, finding a Bravo on the roads is a rare event. You might come across one in the cities of Punjab.

    Bravo was launched with an 800 cc naturally aspirated 3-cylinder petrol engine that makes 40 hp and 60 Nm of torque, mated to a 4-speed manual transmission.

    There is not just one reason for its flop in the Pakistani auto market.

    United Bravo initially attracted a lot of attention due to its low cost. After some time, those who purchased Bravo began to experience a number of build quality issues. Additionally, it was said that the company’s after-sales services were subpar and that there was a shortage of car parts.

    Numerous online reviews of the car’s substandard build, messed-up paint, and poor assembling frightened potential buyers or anyone even considering purchasing a Bravo.

    Bravo had minimal resale value, and the small hatchback was viewed as a scary investment as it was incredibly difficult for the owner to sell the vehicle once they had purchased it since there were few people interested in owning it.

    United Bravo has been unable to draw buyers despite being aimed at Pakistan’s largest automotive sector by sales volume. If the manufacturer had launched the car with long-lasting, good-quality parts, it might have done better in Pakistan.

    Any auto parts store will sell spare parts for the Suzuki Mehran, but you can’t imagine buying parts for Bravo at every shop.

    Pakistanis often assess how a new brand or product will perform in the long run before accepting it or placing their trust in it. Since established brands like Suzuki, Honda, and Toyota have gained the trust of consumers and deliver acceptable after-sales service, it is difficult for newcomers to compete with them in the Pakistani auto market.

  • In Pictures: Pakistan unveils its first electric car with 210km range

    In Pictures: Pakistan unveils its first electric car with 210km range

    Except for Pakistan, electric vehicles have gained massive popularity throughout the world. A few imported cars that are available in the local market are pricey and out of the range of the average person.

    Now that Pakistan’s first electric automobile has been launched with some outstanding features, things are set to change.

    NUR-E 75 images – Photos by Pakwheels

    On Independence Day, Pakistan’s first electric vehicle prototype, the NUR-E 75, was displayed on August 14.

    The battery in the car will have a 35kWh capacity with a range of 210 kilometres after being fully charged.

    NUR-E 75 will save a significant amount of fuel, contribute to the fight against climate change, and maintain economic prosperity, claims Dr Khurshid Qureshi, founder and chairperson of the Distinguished Innovation, Collaboration & Entrepreneurship (DICE) Foundation, who developed the prototype.

    It has a maximum speed of 120km/h, tyre size of 16 inches, a ground clearance of 190mm, and a charging capacity of 220V in eight hours, with fast charging also available.

    Dr Qureshi claimed that the production of the car has three stages: the first involved industrial design, production, and launch; the second involved expanding production to include sedans and SUVs, small commercial trucks, and EV platform export; and the third involves exporting the cars.

    Read more: Cheapest new cars to buy in Pakistan

    The completely working prototype, EV NUR-E 75, is ready for testing and regulatory approval, he said, adding that manufacturing started in 2019. Meanwhile, design work on a rolling platform that will be utilised for multiple vehicle segments is in progress.

    The little hatchback’s maximum output is 80 kW (108 horsepower), and its 35 kWh battery can travel 210 km without the air conditioner on.

    He emphasised that the vehicle, given to Pakistan as a gift for its diamond jubilee, would play a significant role in the context of the environment and climate change and help us transition away from the use of non-renewable fuels.