2022 has been a terrible year for the auto sector of Pakistan. Due to the economic crash, car prices have shot up to monumental levels, putting them out of reach for a vast number of buyers.
Pak Suzuki Motor Company (PSMC), Toyota Indus Motor Company (IMC), and Honda Atlas Cars Limited (HACL), despite having achieved a high degree of localized manufacturing in Pakistan, have increased the prices of their vehicles by huge margins.
Here’s how their old and new prices compare from January to December 2022.
Toyota IMC
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| Toyota Yaris |
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| 1.3 Gli M/T | 2,612,000 | 3,539,000 | 927,000 |
| 1.3 Gli CVT | 2,817,000 | 3,769,000 | 952,000 |
| 1.3 ATIV M/T | 2,745,000 | 3,729,000 | 984,000 |
| 1.3 ATIV CVT | 2,919,000 | 3,929,000 | 1,010,000 |
| 1.5 ATIV X M/T | 2,970,000 | 4,009,000 | 1,039,000 |
| 1.5 ATIV X CVT | 3,175,000 | 4,259,000 | 1,084,000 |
| Toyota Corolla |
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| Altis 1.6 M/T | 3,380,000 | 4,569,000 | 1,189,000 |
| Altis 1.6 CVT | 3,534,000 | 4,979,000 | 1,445,000 |
| Altis SE 1.6 CVT | 3,892,000 | 5,479,000 | 1,587,000 |
| Altis 1.8 CVT | 3,872,000 | 5,639,000 | 1,747,000 |
| Altis 1.8 Grande CVT Beige Interior | 4,179,000 | 5,709,000 | 1,530,000 |
| Altis 1.8 Grande CVT Black Interior | 4,199,000 | 5,749,000 | 1,550,000 |
| Toyota Hilux |
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| Revo G 2.8 M/T | 6,947,000 | 9,839,000 | 2,892,000 |
| Revo G 2.8 A/T | 7,306,000 | 10,309,000 | 3,003,000 |
| Revo V 2.8 A/T | 8,032,000 | 10,599,000 | 2,567,000 |
| Revo Rocco | 8,472,000 | 11,179,000 | 2,707,000 |
| Toyota Fortuner |
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| Fortuner G A/T | 8,569,000 | 11,579,000 | 3,010,000 |
| Fortuner V A/T | 9,941,000 | 13,259,000 | 3,318,000 |
| Fortuner Sigma4 A/T | 10,392,000 | 13,969,000 | 3,577,000 |
| Fortuner Legender A/T | 10,842,000 | 14,699,000 | 3,857,000 |
Honda Atlas
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| City |
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| 1.2 M/T | 2,729,000 | 3,769,000 | 1,040,000 |
| 1.2 CVT | 2,949,000 | 3,899,000 | 950,000 |
| 1.5 CVT | 3,146,000 | 4,139,000 | 993,000 |
| 1.5 Aspire M/T | 3,279,000 | 4,299,000 | 1,020,000 |
| 1.5 Aspire CVT | 3,454,000 | 4,479,000 | 1,025,000 |
| Civic |
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| Civic M-CVT | 5,099,000 | 6,349,000 | 1,250,000 |
| Civic Oriel M-CVT | 5,399,000 | 6,599,000 | 1,200,000 |
| Civic RS LL-CVT | 6,149,000 | 7,549,000 | 1,400,000 |
| HR-V | |||
| VTi | N/a | 5,999,000 | N/a |
| VTi S | N/a | 6,199,000 | N/a |
| BR-V |
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| 1.5 iVTEC S CVT | 3,689,000 | 4,939,000 | 1,250,000 |
Pak Suzuki
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Alto | |||
| Alto VX | 1,308,000 | 1,699,000 | 391,000 |
| Alto VXR | 1,546,000 | 1,976,000 | 430,000 |
| Alto VXR AGS | N/a | 2,120,000 | N/a |
| Alto VXL AGS | 1,747,000 | 2,223,000 | 476,000 |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Wagon R | |||
| Wagon R VXR | 1,877,000 | 2,421,000 | 544,000 |
| Wagon R VXL | 1,975,000 | 2,564,000 | 589,000 |
| Wagon R AGS | 2,158,000 | 2,802,000 | 644,000 |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Cultus | |||
| Cultus VXR | 2,050,000 | 2,754,000 | 704,000 |
| Cultus VXL | 2,244,000 | 3,024,000 | 780,000 |
| Cultus AGS | 2,422,000 | 3,234,000 | 812,000 |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Swift | |||
| Swift GL M/T | 2,499,000 | 3,180,000 | 681,000 |
| Swift GL CVT | 2,699,000 | 3,420,000 | 721,000 |
| Swift GL Limited Edition CVT | N/a | 3,450,000 | N/a |
| Swift GLX CVT | 2,899,000 | 3,760,000 | 861,000 |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Bolan | |||
| Bolan VX | 1,176,000 | 1,500,000 | 324,000 |
Earlier this year, the new regime changed the policies drastically to stop auto-sector imports. Those changes included:
- 100% regulatory duties (RDs) on CBU vehicle imports.
- Letter of Credit (LC) approval on limited CKD imports by the State Bank of Pakistan (SBP).
- Restrictions on car financing by SBP.
Due to these and a few other steps, car sales have decreased by a significant margin compared to last year. Furthermore, due to the non-approval of LCs, car companies are having trouble importing assembly kits, which forced carmakers to observe non-production days (NPDs).
While the operations are recovering gradually, Pakistan’s economy is still in a sorry state, which does not bode well for the local car industry.
Question is not what has increase, Question is what is going to be increase on Jan 2023, which i will tell you.
12.5% increase from Jan 15, 2023.