Tag: New Prices

  • ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    Indus Motor Company (IMC), the manufacturer of Toyota vehicles in Pakistan, has increased prices for its CKD vehicles lineup by upto Rs890,000.

    The price hike has been attributed to “economic uncertainties and volatility of Pakistani rupee”, according to a notice sent to dealer principals, CEOs, and sales heads by the company.

    Below are the new prices:

    Variant Old Price (Rs) New Price (Rs) Increase (Rs)
    Yaris GLI MT 1.3 4,079,000 4,279,000 200,000
    Yaris GLI CVT 1.3 4,339,000 4,549,000 210,000
    Yaris ATIV MT 1.3 4,309,000 4,519,000 210,000
    Yaris ATIV CVT 1.3 4,529,000 4,749,000 220,000
    Yaris ATIV X MT 1.5 4,649,000 4,869,000 220,000
    Yaris ATIV X CVT 1.5 4,929,000 5,169,000 220,000
    Corolla Altis X MT 1.6 5,269,000 5,529,000 260,000
    Corolla Altis 1.6 X CVT-i 5,749,000 6,059,000 310,000
    Corolla Altis 1.6 X CVT-i SE 6,319,000 6,659,000 340,000
    Corolla Altis Grande X CVT-11.8 Beige 6,609,000 6,939,000 330,000
    Corolla Altis Grande X CVT-i1.8 Black 6,649,000 6,979,000 330,000
    Revo V AT 2.8 12,239,000 12,859,000 620,000
    Revo V AT Rocco 12,899,000 13,559,000 659,100
    Fortuner 2.7 G Petrol 13,419,000 14,109,000 690,000
    Fortuner 2.7 V Petrol 15,359,000 16,159,000 800,000
    Fortuner 2.8 Sigma 4 Diesel 16,189,000 17,029,000 840,000
    Fortuner Legender Diesel 17,069,000 17,959,000 890,000

    The notice explained that the current volatile situation of Pakistani rupee against the US dollar has adversely affected the manufacturing cost of IMC, making it extremely difficult for the company to hold the current indicative retail selling prices.

    Hence, the company has decided to pass on some impact to the market. The notification stated that the prices are subject to change and prices prevailing at the time of delivery shall continue to be applicable on all orders.

    Any change in government levies and taxes (including federal excise duty, sales tax, and CVT, etc), tariffs, fiscal policies, import policies, etc., will be borne by the customers. This is the third time since January 2023 that the company has raised the prices of its CKD vehicles lineup.

    The first price hike was introduced on January 12, followed by another price increase later last month. The auto industry has been significantly impacted in recent months, with companies shutting down production plants due to the unavailability of imported raw materials and restrictions imposed by the government to curb imports.

  • Kia increases car prices by up to Rs1.3 million ‘due to significant devaluation of Pakistani rupee’

    Kia increases car prices by up to Rs1.3 million ‘due to significant devaluation of Pakistani rupee’

    As the value of the Pakistani rupee (PKR) against the US dollar falls to an all-time low, Kia Lucky Motors Corporation (KLMC) has announced a significant hike in their car prices in Pakistan.

    Details indicate that, depending on the model, the manufacturer has increased the price of the Kia Picanto, Kia Sportage, Kia Stonic, Kia Sorento, and Kia Carnival in Pakistan by up to Rs1.3 million.

    “Due to the significant and unprecedented devaluation of PKR to USD during the last couple of days, it has become inevitable for LMC to increase the current ex-factory prices of all its vehicles,” the company announced in its notification to dealers.

    The new rates will go into effect on January 31, 2023.

    “While the impact of the devaluation of PKR to USD has been immense, LMC, being a customer-centric organization, has decided not to pass the full impact thereof to its valued customers,” it said, adding that only a partial impact is being passed on to the customer and the rest has been absorbed by LMC.

    It is important to note that on January 30, 2023, the interbank market closed with the Pakistan rupee at an all-time record low of Rs269.63 versus the US dollar.

    The price of the Kia Picanto in Pakistan has been increased by a massive Rs100,000 for both variants, bringing the new price of the M/T variant to Rs3,200,000 and the A/T variant to Rs3,400,000, compared to the old prices of Rs3,100,000 and Rs3,400,000, respectively.

    Here are the new prices for all Kia cars:

  • Suzuki Swift GLX now costs more than Rs4.1 million after recent price hike of Rs355,000

    Suzuki Swift GLX now costs more than Rs4.1 million after recent price hike of Rs355,000

    As expected, Pak Suzuki Motor Company (PSMC) has announced a price hike for all cars after Toyota Indus Motor Company (IMC) and Honda Atlas Cars Limited (HACL).

    The revised retail sale prices will come into effect from January 25, 2023, according to PSMC.

    Here are the new prices:

    Model Old Price (Rs) New Price (Rs) Increase (Rs)
    Alto VX 1,699,000 1,859,000 160,000
    Alto VXR  1,976,000 2,156,000 180,000
    Alto VXR AGS  2,120,000 2,310,000 190,000
    Alto AGS 2,223,000 2,423,000 200,000
    Wagon R VXR  2,421,000 2,629,000 208,000
    Wagon R VXL  2,564,000 2,789,000 225,000
    Wagon R AGS  2,802,000 3,059,000 257,000
    Cultus VXR  2,754,000 3,039,000 285,000
    Cultus VXL  3,024,000 3,339,000 315,000
    Cultus AGS  3,234,000 3,569,000 335,000
    Swift GL MT 3,180,000 3,479,000 299,000
    Swift GL CVT 3,420,000 3,742,000 322,000
    Swift GLX CVT 3,760,000 4,115,000 355,000
    Ravi  1,424,000 1,539,000 115,000
    Ravi w/o Deck  1,349,000 1,464,000 115,000
    Bolan Van  1,500,000 1,619,000 119,000
    Bolan Cargo 1,487,000 1,606,000 119,000

    Surprisingly, the automaker has announced the highest price increase for its flagship hatchback, the Suzuki Swift GLX variant, which will now be sold for Rs4.115 million, a Rs355,000 increase from its previous price of Rs3.760 million. 

    Read more: Honda cars latest prices

    According to the notification from PSMC, the revised retail prices include the FED and sales tax but exclude advance income tax, with another condition that the prices are subject to change without notice at the time of delivery.

  • Pak Suzuki increases motorcycle prices for all models

    Pak Suzuki increases motorcycle prices for all models

    Pak Suzuki has once again announced a rise in prices across the board due to the depreciation of the Pakistani rupee (PKR), much like all of its two-wheeler rivals in the Pakistani market.

    The majority of motorcycle consumers are no longer able to afford the motorcycles due to price increases. Unfortunately, the only option left for the locals is the Chinese bike, which has become more expensive and of lower quality.

    Here are Suzuki motorcycles’ most recent prices:

    Variant Old Invoice New Price Increase
    Suzuki GD-110S Rs219,000 Rs229,000 Rs10,000
    Suzuki GS-150 Rs239,000 Rs251,000 Rs12,000
    Suzuki GS-150 SE Rs256,000 Rs271,000 Rs15,000
    Suzuki GR-150 Rs349,000 Rs365,000 Rs16,000
    Pak Suzuki Motorcycles Latest Price List August 2022

    In comparison to its earlier price of Rs349,000, the Suzuki GR-150 150cc model saw the largest price increase of Rs16,000; the bike now costs Rs365,000.

    It’s important to note that since the start of the year, Pak Suzuki has announced four price increases. In addition to motorbikes, Pak Suzuki also announced a price rise for its car lineup.

    Many assemblers have reported running out of production-critical materials, which the majority of automakers have mostly attributed to the ongoing decline of the Pakistani rupee versus the US dollar.

  • Honda Atlas announces price hike instead of fixing delivery issues

    Honda Atlas announces price hike instead of fixing delivery issues

    Honda Atlas, like its counterpart Indus Motor Company, announced a price hike for the second time in less than two months, increasing ex-factory prices up to Rs170,000, claiming rupee devaluation as the cause for transferring the burden to the consumers.

    The ‘latest generation’ of Honda city in Pakistan is now priced at Rs3,264,000 after getting a hike of Rs135,000. Aspire 1.5 variants of Honda city witnessed a hike of nearly Rs150,000 in their previous rate.

    Meanwhile, Civic prices increased by Rs150,000 across all three variants: the Civic 1.5L CVT, Civic 1.5L Oriel M CVT, and Civic RS 1.5L CVT. The top variant of Honda civic RS 1.5 LL CVT from May 1 will be offered at a price of Rs6,649,000 which was previously sold at Rs6,499,000.

    Honda’s MPV, the BRV, is now priced at Rs4,249,000 after a price increase of Rs170,000. BRV was earlier sold at Rs4,079,000.

    Read more: Toyota Pakistan announces another massive price hike for all cars

    Also, these prices are exclusive of freight charges and any government tax applicable at the time of delivery that will be paid by the consumer.