Tag: MG

  • Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    The government has released the fiscal budget for 2022-23, which includes several changes, including a 200 per cent advance tax on the purchase of cars with engine displacements greater than 1600cc for non-filers.

    This decision is likely to possess a considerable effect on the sales of several cars in Pakistan, which have already witnessed multiple price hikes in previous months. The tax amount for non-filers has now been doubled, which will have an influence on new car sales, particularly those with larger engines.

    The advance tax will now be applicable to several famous vehicles that have dominated the auto industry for years now from well-known manufacturers, including old players like Honda and Toyota, as well as new players like Hyundai, Kia, DFSK and BAIC.

    Taxes for filer and non-filer

    Toyota Corolla Altis Grande, 1800cc, ranges from Rs4,499,000-4,859,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Hyundai Elantra GLS, 2000cc, priced at Rs4,949,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Tucson, 2000cc, ranges from Rs5,799,000-6,299,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.0, 2000cc, priced at Rs6,999,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    DFSK Glory 1.8 CVT, 1800cc, priced at Rs5,159,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Kia Sportage, 2000cc, priced at Rs5,300,000-6,300,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    BAIC BJ40, 2000cc, priced at Rs8,199,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.5, 2500cc, priced at Rs7,849,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Kia Sorento, 2400cc, ranges from Rs6,836,000-7,499,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Toyota Fortuner, 2700-2800cc, ranges from Rs9,959,000-12,679,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Toyota Hilux, 2800cc, ranges from Rs7,359,000-9,729,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Isuzu D-Max V-Cross, 3000cc, ranges from Rs6,600,000-6,960,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Kia Sorento V6, 3500cc, ranges from Rs7,499,000, Tax for filer: Rs450,000, Tax for non-filer: Rs900,000

    Local vehicle assemblers are dissatisfied with the new budget, claiming that the government unilaterally raised advance tax on motor vehicles larger than 1,600cc because the industry did not propose it. They claim that the decision is also discriminatory and will reduce auto sales.

    Read more: Energy sector to get a massive portion of the Rs699 billion subsidy

    Advance tax on motor vehicles larger than 1600cc has been doubled, while electric vehicles costing Rs5 million or more will be subject to a 3 per cent tax.

  • Toyota to launch its first electric car with 559 km range next month

    Toyota to launch its first electric car with 559 km range next month

    Toyota announced that it will introduce its revolutionary bZ4X battery-powered SUV in its home market on May 12, as part of a larger push to minimise its carbon footprint.

    The bZ4X is Toyota’s first vehicle built on a specific electric vehicle (EV) platform created in collaboration with Subaru. It’s made at the Motomachi factory, which now employs CO2-free utility power sourced from renewable sources.

    It was also disclosed that the Japanese dealerships would start taking orders for the first batch of 3,000 vehicles in May 2022, with the second batch of about 2,000 vehicles anticipated early in the autumn. This year, the manufacturer plans to create and sell 5,000 units.

    The Japanese manufacturer claims that its new battery electric vehicle (BEV) SUV has a power-efficiency rating of 128Wh/km and a touring range of 559 kilometers (347 miles). It is compatible with rapid DC chargers available all around the world, while its battery can be topped to 80 per cent in just 40 minutes.

    All bZ4X models delivered in Japan will be leased, as per the manufacturer, to alleviate customer concerns about electric cars and allow it to apply its 3Rs (Rebuild, Reuse, Recycle) battery management system. The batteries incorporated in the SUVs will be guaranteed for ten years and 200,000 kilometers (120,000 miles) at 70 per cent capacity retention.

    Read more: Here’s a look at the new Honda Vezel 2023

    The Kinto service will be able to lease the bZ4X models to private clients, while the Rent-a-Lease and Toyota Mobility Services networks will be able to lease the EV to corporate customers.