Despite all crossover SUVs recently becoming high in demand in Pakistan, the Chinese automaker Haval (that was debuted in Pakistan earlier this year) is yet to establish itself as a credible threat to the other SUVs in the local market. It has been a few months since the Haval SUVs were launched here but they are still almost non-existent on the roads. Regardless, Haval has decided to increase the price of the Jolion SUV for the second time within four months.
The company has increased Rs. 295,000 on the ex-factory price, but with the addition of insurance and delivery charges of Rs. 37,500, the price increase amounts to Rs. 332,500.
The following is the new price of the Haval Jolion SUV, effective immediately:
|Vehicle||Old Ex-Factory Price (PKR)||New Ex-Factory Price (PKR)||Price Increase (PKR)|
The company stated in an official notice that the prices have been increased due to the “unfavorable fluctuation in the exchange rate of USD” which was Rs. 153 at the time of its debut in the country. Today, the exchange rate against the US dollar stands at Rs. 167.
During the recent wave of price reductions, Haval was one of the few automakers that had not decreased its prices because it is still selling Completely Built-Up (CBU) units in the Pakistani market whereas the reductions were observed only in the prices of locally assembled vehicles as they enjoyed greater tax reliefs under the latest auto policy.
The price hike is likely to place both Haval and its business partner in Pakistan — Sazgar Engineering Works Limited (SEWL) — on the government’s radar because the Ministry of Industries and Production had recently declared that automakers will have to justify car prices going forward, otherwise, the government will make them fix the prices of their vehicles to curb profiteering.
It would be interesting to see how things move forward from here.