The price hike wave is sweeping across the entire automotive industry with Regal Automobiles becoming its latest victim. The company has revised the prices of Prince Pearl, DFSK Glory 580 (all variants), K-01 pickup, and K-07 passenger van.
Effective immediately, the new prices of Prince-DFSK cars are as follows:
|Model||Old Price (Rs.)||New Price (Rs.)||Increase (Rs.)|
|DFSK Glory 580 1.5 CVT||5,009,000||6,105,000||1,096,000|
|DFSK Glory 580 1.8 CVT||5,160,000||6,256,000||1,096,000|
|DFSK Glory 580 Pro||5,400,000||6,550,000||1,150,000|
Although the company hasn’t given an explanation regarding the price hike, the reason is most likely the depreciation of the local currency.
Regal Automobiles was known for one of the cheapest car lineups in Pakistan prior to this price hike. However, with their cheapest car now priced at almost Rs. 2 million, Regal Automobiles’ lineup is anything but cheap.
The dollar rate currently stands close to Rs. 240, which prompted the price hikes. Industry experts speculated that the increase in cost will impact car sales as well as operations costs, which spells trouble for the entire industry.