Tag: consumer market

  • Here are the latest prices of all Honda cars in Pakistan after reduction

    Here are the latest prices of all Honda cars in Pakistan after reduction

    In a move similar to what Toyota did earlier, Honda Atlas Cars (Pakistan) Limited announced on Wednesday that it is reducing the prices of its vehicles, especially the popular Honda City lineup.

    This decision was made due to the significant strengthening of the Pakistani rupee (PKR) against the US dollar.

    Through an official circular, Honda Pakistan disclosed the updated ex-factory prices for all its car models, reflecting reductions of up to PKR 300,000.

    This substantial price drop is expected to make Honda vehicles more affordable for a broader consumer base.

    After these adjustments, the price of the most budget-friendly Honda car in Pakistan, the City MT 1.2L, now stands at Rs4.699 million following a reduction of Rs100,000.

    Moreover, the top variant, the Aspire CVT 1.5L, is now available for Rs5.849 million after a cut of Rs130,000.

    The most significant price changes have been applied to the popular Honda City lineup, generating excitement among potential buyers.

    Here are the new prices for all Honda cars:

  • Suzuki Cultus will now be sold for Rs4.36 million following latest price increase

    Suzuki Cultus will now be sold for Rs4.36 million following latest price increase

    On Wednesday, Pak Suzuki Motor Company (PSMC) made an announcement that has stirred up the automobile industry – a decision to increase the prices of their diverse range of car models by a substantial amount, up to Rs235,000. The automaker released a notification detailing the revised retail sales prices which will take effect from April 6th.

    As the premier assembler, manufacturer, and marketer of Suzuki cars, pickups, vans, 4x4s, motorcycles, and their spare parts in the local market, PSMC’s pricing strategy has a significant impact on the consumer market. This decision will undoubtedly spark discussions and debates, as car enthusiasts and industry experts alike try to make sense of its implications.

    The latest notification from the automobile giant has set tongues wagging as it brings about changes that may impact the pricing of their products. As per the announcement, the revised retail prices of their vehicles are inclusive of federal excise duty and sales tax, but advance income tax is not included.

    Here are the latest prices of all Suzuki cars effective April 6, 2023:

    Model Old prices New prices Increase 
    Alto VX 2,144,000 2,251,000 +107,000
    Alto VXR  2,487,000 2,612,000 +125,000
    Alto VXR AGS  2,665,000 2,799,000 +134,000
    Alto AGS 2,795,000 2,935,000 +140,000
    Wagon R VXR  3,062,000 3,214,000 +152,000
    Wagon R VXL  3,248,000 3,412,000 +152,000
    Wagon R AGS  3,563,000 3,741,000 +178,000
    Cultus VXR  3,540,000 3,718,000 +178,000
    Cultus VXL  3,889,000 4,084,000 +195,000
    Cultus AGS  4,157,000 4,366,000 +209,000
    Swift GL MT 4,052,000 4,256,000 +204,000
    Swift GL CVT 4,355,000 4,574,000 +219,000
    Swift GLX CVT 4,725,000 4,960,000 +235,000
    Ravi  1,768,000 1,856,000 +88,000
    Ravi w/o Deck  1,848,000 1,940,000 + 92,000
    Bolan Van  1,848,000 1,940,000 +92,000
    Bolan Cargo 1,852,000 1,944,000 +92,000

    It’s worth noting that the prices are subject to change without prior notice, which might cause some concern among potential buyers. Additionally, the company made it clear that any government taxes and levies applicable at the time of delivery will be the responsibility of the customers.

    With this new development, the automobile industry is bracing for a potentially significant shift in pricing, and it remains to be seen how it will affect the purchasing behavior of consumers.

  • Bangladesh’s GDP is expected to reach $1 trillion by 2040 due to a fast-growing consumer market

    Bangladesh’s GDP is expected to reach $1 trillion by 2040 due to a fast-growing consumer market

    Bangladesh is on track to have a $1 trillion economy by 2040, owing to consumer confidence, innovation in growing economic sectors, and a young, energetic workforce.

    According to a Boston Consulting Group (BCG) analysis released on Friday, the South Asian country has beaten rivals including India, Indonesia, Vietnam, Philippines, and Thailand with average annual growth of 6.4 per cent between 2016 and 2021.

    The domestic consumer market in Bangladesh is expected to expand to be the ninth-largest in the world. The survey also noted that between 2020 and 2025, a quickly growing middle class and wealthy class are expected to increase significantly, with a thriving gig economy supporting a workforce where the average age is only 28, according to Bloomberg.

    “The country could have easily been overshadowed by its neighbor to the northeast — China — or its continental cousin to the west — India — but in this region of economic powerhouses, Bangladesh stands tall,” BCG wrote.

    In 2015, Bangladesh moved up the income scale from poor to lower-middle income. Bangladesh’s GDP per capita is already larger than its neighbour, even though it is five years later than India. By 2031, the country hopes to reach upper middle income status.

    Some obstacles still exist. According to BCG, recent liquidity problems, as well as pressures from foreign exchange and inflation, could shorten growth. However, Bangladesh has made steps to prepare its $416 billion economy for a prosperous few decades, provided it keeps its average growth rate around 5 per cent.

    According to a BCG survey study, 57 per cent of respondents “continue to feel that, especially as the nation shifts to a skill-based economy, the next generation would have better lifestyles than themselves.”

    “Though the economy faces some near-term volatility, we are confident that this highly resilient economy will continue to demonstrate robust growth in the long term,” the report said.