Regal Automobiles has increased the price of Prince Pearl, becoming the 4th automaker to do so in a recent series of price hikes. Like other automakers, the company cited raw material rate hikes, increased freight costs, and local currency depreciation as a reason for price hikes.
Effective immediately, the new price is as follows:
| Old Price (PKR) | 1,534,000 |
| Revised Price (PKR) | 1,586,000 |
| Increase (PKR) | 52,000 |
| Booking Amount (PKR) | 500,000 |
| Delivery Time (Days) | 45 t0 60 |
Prince Pearl has become a common sight on the Pakistani roads lately. It was launched in 2019 as a competitor to Suzuki Alto. Initially, its sales remained slow due to the COVID19-induced lockdown. However, the hatchback has seen a rise in popularity recently.
The car market is about to witness a rise in temperature due to the impending showdown between the automakers and the Engineering Development Board (EDB). Earlier this month, the latter sent a notice to all car companies, warning them against frequent price hikes.
In the letter, EDB also summoned the respective heads of all car companies including Regal Automobiles to a meeting that will inquire about and discuss a way forward to curb the price hikes.
