Tag: Car prices in Pakistan

  • PAMA reports over 18% decline in car sales in Pakistan for FY24

    PAMA reports over 18% decline in car sales in Pakistan for FY24

    Car sales in Pakistan experienced a significant decline of 18.2 per cent during the fiscal year 2023-24, as reported by the Pakistan Automotive Manufacturers Association (PAMA).

    The total number of vehicles sold dropped to 103,826 units, down from 126,878 units in the previous fiscal year.

    Despite the annual drop, June 2024 brought a surprising surge in car sales. The month saw a remarkable 120.2 per cent increase, with 13,284 units sold compared to just 6,033 units in June 2023.

    This spike also represented a 21.3 per cent increase from the 10,949 units sold in May 2024, indicating a potential recovery in the market.

    However, the overall picture for the year was less optimistic. Passenger car sales decreased by 15.7 per cent year-on-year, with 81,577 units sold compared to 96,811 units in the previous year. The production of passenger cars also saw a decline, with only 79,573 units produced in FY24, a 22.0 per cent drop from the 101,984 units manufactured last year.

    Diving deeper into the data, the ‘Below 1000cc’ category led the market with 38,657 units sold in FY24. Within this category, the Suzuki Alto was the star performer, with an impressive 35,883 units sold. The Suzuki Bolan followed with 2,774 units.

    The ‘1300cc and Above’ category also saw substantial sales, with 35,447 units sold. Toyota (Corolla & Yaris) dominated this segment, selling 16,305 units.

    Honda Cars (Civic & City) came next with 11,501 units, followed by Suzuki Swift with 5,567 units, and Hyundai Elantra with 1,193 units.

    A total of 7,473 units were sold in the 1000ccc segment in FY24. The Suzuki Cultus led this category with 3,878 units, while the Suzuki WagonR followed with 3,595 units.

    These statistics reveal a complex and shifting landscape in Pakistan’s automotive market. While the year saw a notable decline in sales and production, the significant surge in June suggests that the market might be on the path to recovery.

    For industry stakeholders and consumers alike, these trends will be crucial to watch in the coming months.

  • Toyota announces price cut for all vehicles

    Toyota announces price cut for all vehicles

    Toyota Indus Motor Company (IMC) has announced a reduction in car prices after the Pakistani rupee’s spectacular comeback against the US dollar.

    It is worth mentioning that Toyota had increased car prices up to Rs3.16 million less than two weeks ago.

    The latest car prices for Toyota’s Completely Knocked Down (CKD) units are listed below:

    Vehicle Old Price New Price Reduction
    Toyota Yaris
    Yaris 1.3 Gli M/T Rs3,799,000 Rs3,539,000 Rs260,000
    Yaris 1.3 Gli CVT Rs4,039,000 Rs3,769,000 Rs270,000
    Yaris 1.3 ATIV M/T Rs3,999,000 Rs3,729,000 Rs270,000
    Yaris 1.3 ATIV CVT Rs4,209,000 Rs3,929,000 Rs280,000
    Yaris 1.5 ATIV X M/T Rs4,309,000 Rs4,009,000 Rs300,000
    Yaris 1.5 ATIV X CVT Rs4,569,000 Rs4,259,000 Rs310,000
    Toyota Corolla
    Corolla Altis 1.6 M/T Rs4,899,000 Rs4,569,000 Rs330,000
    Corolla Altis 1.6 A/T Rs5,139,000 Rs4,789,000 Rs350,000
    Corolla Altis SE 1.6 A/T Rs5,639,000 Rs5,279,000 Rs360,000
    Corolla Altis 1.8 CVT Rs5,679,000 Rs5,269,000 Rs410,000
    Corolla Altis 1.8 Grande CVT Beige Interior Rs6,149,000 Rs5,709,000 Rs440,000
    Corolla Altis 1.8 Grande CVT Black Interior Rs6,189,000 Rs5,749,000 Rs440,000
    Toyota Hilux Revo
    Hilux Revo G 2.8 M/T Rs9,819,000 Rs9,169,000 Rs650,000
    Hilux Revo G 2.8 A/T Rs10,299,000 Rs9,609,000 Rs690,000
    Hilux Revo V 2.8 A/T Rs11,349,000 Rs10,599,000 Rs750,000
    Hilux Revo Rocco Rs11,999,000 Rs11,179,000 Rs820,000
    Toyota Fortuner
    Fortuner G A/T Rs12,489,000 Rs11,579,000 Rs910,000
    Fortuner V A/T Rs14,279,000 Rs13,259,000 Rs1,020,000
    Fortuner Sigma 4 A/T Rs15,069,000 Rs13,969,000 Rs1,100,000
    Fortuner Legender Rs15,839,000 Rs14,699,000 Rs1,140,000
    Toyota cars latest price list effective from 16 August 2022

    The automaker decreased the price of Corolla variants by Rs330,000-Rs440,000. The price of the Corolla 1.6 manual model was reduced by Rs330,000, from Rs4.899 million to Rs4.569 million. After a reduction of Rs350,000, the Corolla 1.6 automatic model is now priced at Rs4.789 million.

    Similar reductions were made in the price of Yaris variants, which were reduced between Rs260,000 and Rs310,000. The Yaris 1.5 CVT received the largest price reduction in the aforementioned category, falling by Rs310,000 to a new price of Rs4.259 million from its previous price of Rs4.569 million.

    The price of Hilux Revo was reduced between Rs650,000 to Rs820,000. While the invoice of Revo V AT Rocco dropped from Rs11.999 million to Rs11.179 million, the cost of Revo G MT reduced from Rs9.819 million to Rs9.169 million.

    Read more: Cheapest new cars to buy in Pakistan

    IMC also reduced the prices for the Fortuner models between Rs910,000 and Rs1.14 million.

    After a drop of Rs910,000, the Toyota Fortuner Lo Petrol variant is now offered for Rs11.579 million. The Fortuner Diesel Legender model witnessed a major price decrease, dropping from Rs15.839 million to Rs14.69 million.

  • Honda Pakistan announces a massive price hike for all cars

    Following the price hike trend by several automakers in Pakistan, Honda Atlas Cars Limited (HACL) has increased the prices of all cars by Rs 250,000 to Rs 400,000. The new prices announced by Honda are effective from today, March 26, 2022.

    Considering the flagship and most popular sedan from Honda, the new Honda Civic 2022 1.5L Turbo M-CVT, Oriel 1.5L Turbo M-CVT, and RS 1.5L Turbo LL-CVT will now cost Rs 5.399 million, Rs 5.649 million, and Rs 6.499 million, after the hike of Rs 300,000, Rs 250,000 and Rs 350,000 respectively.

    Top variants of Honda City, including City 1.5L CVT, 1.5L City Aspire Manual, and 1.5L Aspire CVT now cost Rs 3.446m, Rs 3.579 million, and Rs 3.749 million, after a jump of Rs 295,000 to Rs 300,000.

    The new price of Honda City 1.2L MT and CVT variant is Rs 3.129 million and Rs 3.249 million, which saw a surge of Rs 400,000 and Rs 300,000 respectively. After an increase of Rs 390,000, Honda’s MPV BR-V CVT S is now priced at Rs 4.079 million.

    It is worth noting that the retail price is applicable on orders made till November 2021 as well as full payment received by March 31. The current retail price is also applicable on back order and full payment till March 24 with expected delivery in June.

    Moreover, Honda revealed that 50 per cent of the price increase would be applicable on back order with expected delivery till June and full payment received till April 30.

  • Car prices in Pakistan expected to increase by 15 per cent

    Three prominent automakers in Pakistan including Suzuki, Honda, and Hyundai are expected to announce a price hike within two weeks, due to the depreciation of the rupee against the US dollar and rising prices of imported raw materials.

    Analysts expect car prices to increase by up to 15 per cent. It is worth noting that Pak Suzuki and Kia Lucky Motors have already announced a price hike for their vehicles.

    Experts predict that more auto assemblers and Original Equipment Manufacturers (OEM) are expected to jump on the price hike bandwagon.

    Considering the imminent price hike, Suzuki Bolan may witness an increase of Rs. 172,000 in its current price of Rs. 1.17 million, which will cost Rs. 1.35 million after the hike.

    The all-new Honda Civic Vti Oriel 2022 which costs Rs. 5.4 million is expected to be priced at Rs. 6.2 million after a massive increase of Rs. 810,000 in its current price.

    Hyundai’s only sedan, the 2.0 Hyundai Elantra GLS after getting the expected hike will cost Rs. 5.1 million as compared to its current price of Rs. 4.4 million.

    Read more: ‘Hamaray paas paisa ziada aya hai’: PM Khan reveals reason for slashing petrol, diesel prices

    Rising inflation and hefty petrol prices have immensely impacted the lives of people, as it has forced several car owners to switch to a two-wheeler for daily commuting.