Here’s How Much Car Prices Have Increased in the Last 18 Months

Late in 2017, the Pakistani Rupee was steady at Rs. 104 against the US dollar in the open market but over the last 18 months, the Rupee has plunged to a record low of Rs. 160 against one US dollar.

The substantial depreciation of the Pak Rupee has led to multiple price increases in the case of vehicles as their prices in Pakistan have been changed 5-8 times by multiple automakers during this timeframe.

This, along with added duties and taxes in the latest financial budget, has pushed the prices of cars to an impractical region, badly damaging the sales of cars in the country. The sector showed a slowdown in sales which fell by 8% to 237,950 units in the fiscal year 2019. This is also the first time after 6 years that vehicles sales in Pakistan fell.


ALSO READ

Suzuki Alto & Vitara Get Huge Price Bumps


On average, prices have increased by 40% in the last 18 months. The table below shows the prices of locally assembled cars to help shed light on the massive change in these prices.

Car December 2017 July 2019 Price Difference %
FAW V2 1,069,000 1,499,000                     40.22%
FAW X-PV Dual A/C 919,000 1,174,000                     27.74%
FAW X-PV Dual Standard 869,000 1,114,000                     28.19%
Honda City 1.3 M/T 1,549,000 2,309,000                     49.06%
Honda City 1.3 P/T 1,689,000 2,489,000                     47.36%
Honda City 1.5 M/T 1,599,000 2,369,000                     48.15%
Honda City 1.5 P/T 1,739,000 2,539,000                     46.03%
Honda City 1.5 Aspire M/T 1,729,000 2,539,000                     46.84%
Honda City 1.5 Aspire P/T 1,869,000 2,699,000                     44.40%
Honda Civic 1.8 CVT 2,349,000 3,499,000                     48.95%
Honda Civic 1.8 CVT Oriel 2,499,000 3,749,000                     50.02%
Honda BR-V CVT 2,229,000 2,949,000                     32.30%
Honda BR-V CVT-S 2,329,000 3,099,000                     33.06%
Toyota Corolla 1.3 XLi 1,759,000 2,499,000                     42.06%
Toyota Corolla 1.3 GLi M/T 1,889,000 2,749,000                     45.52%
Toyota Corolla 1.3 GLi A/T 1,964,000 2,849,000                     45.06%
Toyota Corolla 1.6 Altis 2,149,000 3,149,000                     46.53%
Toyota Corolla 1.8 Altis M/T 2,224,000 3,299,000                     48.33%
Toyota Corolla 1.8 Altis CVT 2,349,000 3,449,000                     46.82%
Toyota Corolla 1.8 Altis Grande M/T 2,399,000 3,499,000                     45.85%
Toyota Corolla 1.8 Altis Grande CVT 2,549,000 3,699,000                     45.11%
Toyota Fortuner 2.7 Petrol 5,399,000 7,999,000                     48.15%
Toyota Fortuner 2.8 Diesel 5,899,000 8,649,000                     46.61%
Toyota Hilux Revo 2.8 V 4,649,000 6,249,000                     34.41%
Toyota Hilux Revo 2.8 G M/T 4,124,000 5,599,000                     35.76%
Toyota Hilux Revo 2.8 G A/T 4,349,000 5,899,000                     35.64%
Suzuki Mehran VX 679,000 839,000                     23.56%
Suzuki Mehran VXR 732,000 923,000                     26.09%
Suzuki Ravi 672,000 941,000                     40.02%
Suzuki Bolan 754,000 1,050,000                     39.25%
Suzuki WagonR VXR 1,054,000 1,540,000                     46.11%
Suzuki WagonR VXL 1,094,000 1,625,000                     48.53%
Suzuki Cultus VXR 1,250,000 1,745,000                     39.59%
Suzuki Cultus VXL 1,391,000 1,855,000                     33.35%
Suzuki Cultus VXL AGS 1,528,000 1,975,000                     29.25%
Suzuki Swift DLX M/T 1,327,000 1,905,000                     43.55%
Suzuki Swift DLX A/T 1,463,000 2,050,000                     40.10%

 


ALSO READ

Honda Halts Car Production for Ten Days: Report


Previously, the auto industry had projected an increase in sales to 0.3 million units by 2021 and 0.5milion units by 2022 but from the recent outlook, the sector is adrift from achieving this goal.


  • Unless there is not restriction or mechanism for the price increase this cartel will keep on increasing the prices at will and the public will suffer. Same goes for the used car/imported car dealers.


  • >