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.


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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.

CarDecember 2017July 2019Price Difference %
FAW V21,069,0001,499,000                    40.22%
FAW X-PV Dual A/C919,0001,174,000                    27.74%
FAW X-PV Dual Standard869,0001,114,000                    28.19%
Honda City 1.3 M/T1,549,0002,309,000                    49.06%
Honda City 1.3 P/T1,689,0002,489,000                    47.36%
Honda City 1.5 M/T1,599,0002,369,000                    48.15%
Honda City 1.5 P/T1,739,0002,539,000                    46.03%
Honda City 1.5 Aspire M/T1,729,0002,539,000                    46.84%
Honda City 1.5 Aspire P/T1,869,0002,699,000                    44.40%
Honda Civic 1.8 CVT2,349,0003,499,000                    48.95%
Honda Civic 1.8 CVT Oriel2,499,0003,749,000                    50.02%
Honda BR-V CVT2,229,0002,949,000                    32.30%
Honda BR-V CVT-S2,329,0003,099,000                    33.06%
Toyota Corolla 1.3 XLi1,759,0002,499,000                    42.06%
Toyota Corolla 1.3 GLi M/T1,889,0002,749,000                    45.52%
Toyota Corolla 1.3 GLi A/T1,964,0002,849,000                    45.06%
Toyota Corolla 1.6 Altis2,149,0003,149,000                    46.53%
Toyota Corolla 1.8 Altis M/T2,224,0003,299,000                    48.33%
Toyota Corolla 1.8 Altis CVT2,349,0003,449,000                    46.82%
Toyota Corolla 1.8 Altis Grande M/T2,399,0003,499,000                    45.85%
Toyota Corolla 1.8 Altis Grande CVT2,549,0003,699,000                    45.11%
Toyota Fortuner 2.7 Petrol5,399,0007,999,000                    48.15%
Toyota Fortuner 2.8 Diesel5,899,0008,649,000                    46.61%
Toyota Hilux Revo 2.8 V4,649,0006,249,000                    34.41%
Toyota Hilux Revo 2.8 G M/T4,124,0005,599,000                    35.76%
Toyota Hilux Revo 2.8 G A/T4,349,0005,899,000                    35.64%
Suzuki Mehran VX679,000839,000                    23.56%
Suzuki Mehran VXR732,000923,000                    26.09%
Suzuki Ravi672,000941,000                    40.02%
Suzuki Bolan754,0001,050,000                    39.25%
Suzuki WagonR VXR1,054,0001,540,000                    46.11%
Suzuki WagonR VXL1,094,0001,625,000                    48.53%
Suzuki Cultus VXR1,250,0001,745,000                    39.59%
Suzuki Cultus VXL1,391,0001,855,000                    33.35%
Suzuki Cultus VXL AGS1,528,0001,975,000                    29.25%
Suzuki Swift DLX M/T1,327,0001,905,000                    43.55%
Suzuki Swift DLX A/T1,463,0002,050,000                    40.10%

 


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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.


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