In Pakistan (MNM.COM.PK), the dollar came down, cars are still expensive, the dollar came to the position of about two years ago, but the prices could not be reduced, from 3 to 24 million rupees.
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In June 2019, the US dollar was between Rs 153 and Rs 154. After a high price of Rs 168, the dollar reached Rs 152 in April 2021, but in the meantime, the prices of four-wheelers got out of control.
Just look at the smaller class Suzuki Wagon R, in June 2019 it was Rs. 12 lakh 64 thousand but by April 2021 it has reached Rs. 1.64 million.
According to the report, if we compare the 1300 cc car of the Chinese model, the price in June 2019 was 1.289 million which has increased to around 320,000 by April 2021 and reached 1.69 million.
Similarly, in June 2019, the Honda City 1.5 was Rs 21.19 lakh, an increase of Rs 580,000 to Rs 26.99 lakh, while the 1.6 Toyota Corolla increased by Rs 695,000 to Rs 2.6 lakh in almost two years. 74 thousand to 33 lakh 69 thousand.
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If we talk about the cars used by the affluent class, the price of Honda Civic has increased by Rs. 900,000 to Rs.
The APV Suzuki is also priced at Rs. During this period 1.435 million. This car is priced at Rs. Rs. 3.14 million which is now. 45 lakh 75 thousand.
Not only that, in June 2019, the price of the Toyota Fortuner was also Rs 78 lakh, but now with an increase of Rs 13 lakh, its price has crossed Rs 91 lakh.
Car dealers even see the government's hand behind skyrocketing car prices. A car dealer says that if the price of a car in England is پا 500, then the government in Pakistan charges 00 1,500, which is why the prices are higher here.
Dealers say local car collectors have assured the government before 2020 that they will start manufacturing vehicles in Pakistan, but so far this promise has not been fully fulfilled. The government's import policy is also on track to reduce prices. There is a big obstacle.
According to dealers, they can import 3-year-old model vehicles, which should be increased to at least 5 years.
Shehzad Saleem Khan, chairman of the Lahore Car Dealers Association, said that if the government opened up imports, car prices would fall sharply.
They say local collectors have a monopoly, which is why they raise prices every two to three months.
Asim Ayaz, Chairman, Engineering Development Board, assured a reduction in vehicle prices. He said that due to the increase in the prices of additional customs duties, steps were being taken to reduce them and the manufacture of spare parts at the local level would also bring down the prices.
He said that the share of tax in car prices in Pakistan is the highest in the region, for which a new policy "Auto Industry Development and Export Plan" is being formulated.