For long Pak Rupee was hovering around Rs 104 against the US Dollar in open market. However since December 2017, the decline started which over the period of 18 months have brought the Rupee value at Rs 160 against a single Dollar.
The massive devaluation of Pak Rupee resulted in frequent price hikes as far as the automobiles are concerned. Car prices in Pakistan were revised from 6 to 8 times by different automakers during the last 18 months.
This, coupled with added duties and taxes in the recent financial budget have pushed the prices of cars to an unrealistic mark, badly denting the sales of automobiles in the country. Automobile sector recorded a slowdown in sales which dropped 8% to 237,950 units in fiscal year 2019. This is also the first time after 6 years that automobile sales in Pakistan have witnessed a decline.
Prices since December 2017 have gone up by 39% on average. Below is comparison of prices of some of the local assembled cars which will give you an idea of how much the prices have gone up in the last 18 months. The % difference in increase is also mentioned.
|Car||December 2017||July 2019||Price Difference %|
|FAW X-PV Dual A/C||919,000||1,174,000||27.74%|
|FAW X-PV Dual Standard||869,000||1,114,000||28.19%|
|Honda City 1.3 M/T||1,549,000||2,309,000||49.06%|
|Honda City 1.3 P/T||1,689,000||2,489,000||47.36%|
|Honda City 1.5 M/T||1,599,000||2,369,000||48.15%|
|Honda City 1.5 P/T||1,739,000||2,539,000||46.03%|
|Honda City 1.5 Aspire M/T||1,729,000||2,539,000||46.84%|
|Honda City 1.5 Aspire P/T||1,869,000||2,699,000||44.40%|
|Honda Civic 1.8 CVT||2,349,000||3,499,000||48.95%|
|Honda Civic 1.8 CVT Oriel||2,499,000||3,749,000||50.02%|
|Honda BR-V CVT||2,229,000||2,949,000||32.30%|
|Honda BR-V CVT-S||2,329,000||3,099,000||33.06%|
|Toyota Corolla 1.3 XLi||1,759,000||2,499,000||42.06%|
|Toyota Corolla 1.3 GLi M/T||1,889,000||2,749,000||45.52%|
|Toyota Corolla 1.3 GLi A/T||1,964,000||2,849,000||45.06%|
|Toyota Corolla 1.6 Altis||2,149,000||3,149,000||46.53%|
|Toyota Corolla 1.8 Altis M/T||2,224,000||3,299,000||48.33%|
|Toyota Corolla 1.8 Altis CVT||2,349,000||3,449,000||46.82%|
|Toyota Corolla 1.8 Altis Grande M/T||2,399,000||3,499,000||45.85%|
|Toyota Corolla 1.8 Altis Grande CVT||2,549,000||3,699,000||45.11%|
|Toyota Fortuner 2.7 Petrol||5,399,000||7,999,000||48.15%|
|Toyota Fortuner 2.8 Diesel||5,899,000||8,649,000||46.61%|
|Toyota Hilux Revo 2.8 V||4,649,000||6,249,000||34.41%|
|Toyota Hilux Revo 2.8 G M/T||4,124,000||5,599,000||35.76%|
|Toyota Hilux Revo 2.8 G A/T||4,349,000||5,899,000||35.64%|
|Suzuki Mehran VX||679,000||839,000||23.56%|
|Suzuki Mehran VXR||732,000||923,000||26.09%|
|Suzuki WagonR VXR||1,054,000||1,540,000||46.11%|
|Suzuki WagonR VXL||1,094,000||1,625,000||48.53%|
|Suzuki Cultus VXR||1,250,000||1,745,000||39.59%|
|Suzuki Cultus VXL||1,391,000||1,855,000||33.35%|
|Suzuki Cultus VXL AGS||1,528,000||1,975,000||29.25%|
|Suzuki Swift DLX M/T||1,327,000||1,905,000||43.55%|
|Suzuki Swift DLX A/T||1,463,000||2,050,000||40.10%|
Auto industry had forecasted to increase its sales to 0.3 million by 2021 and half a million units by 2022; however from the looks of it, the sector is far from achieving this goal.