Pakistan's carmakers announce price reduction as tax cuts take effect
- Listed here are all the price reductions announced by Honda Atlas, Pak Suzuki, Indus Motor Company, Lucky Motor Corp, Hyundai Nishat Motors, and others
Passing on the impact of reduction in federal excise duty and sales tax among other incentives announced by the government, almost all carmakers have notified the keenly-awaited price decrease of their variants.
The lists below are the new ex-factory prices of cars in Pakistan:
Indus Motor Company (IMC)
Indus Motor Company, the makers of Toyota Corolla in Pakistan, slashed up to Rs400,000 on its locally-assembled cars with all variants of Fortuner receiving the highest price cuts largely due to the significant impact of the duty cut. The company said that the updated prices will be effective immediately.
Lucky Motor Corporation
As expected, other companies followed suit.
Pak Suzuki Motor Company (PSMC) was among the biggest beneficiary as its variants fell below the 1,000cc range as well. The company passed on the impact of:
- Reduction in GST
- zero per cent FED
- zero per cent VAT on the CKDs of 1,000cc vehicles
Prince DFSK and United Motors
Two Chinese automakers, United Motors and Prince-DFSK, also announced price reductions. United reduced the prices of Alpha and Bravo by Rs69,000 and Rs95,000, respectively. Prince-DFSK slashed the prices of its Prince Pearl variant by Rs88,000.
Honda was one of the last auto sector players to announce price reductions, notifying the decrease on Friday.
Hyundai Nishat Motors
Hyundai Nishat Motors also announced a price reduction, notifying its customers of the changes in its variants/models.
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