MG HS Price Increased for All Models Due to Higher Tax

In the fiscal budget for 2024-25, the federal government introduced a higher withholding tax on locally assembled cars. Finance Minister Muhammad Aurangzeb announced that this tax will now be calculated based on the ex-factory price of the vehicles instead of the engine capacity.

Here is the updated tax percentage and its impact on car prices based on engine capacity.

Following the budget announcement, there has been much anticipation regarding the new car prices post-tax imposition. MG Pakistan has now revealed the updated prices for their HS models, reflecting the new withholding tax.

For the HS Essence, the previous price was Rs. 8,099,000. With the 2% withholding tax, which amounts to Rs. 161,980, the new price is Rs. 8,260,980.

HS 2.0L will see a larger increase, the new tax of Rs. 464,950 brings its price from Rs. 9,299,000 to Rs. 9,763,950.

Finally, the HS Excite will now cost Rs. 7,342,980, with an added tax of Rs. 143,980 to its original price of Rs. 7,199,000.

These revised prices do not include freight charges. This means the final price might vary slightly due to these additional costs.

The mentioned tax rates and prices apply to tax filers. Non-filers may have to pay higher prices still.