Car Price Comparison: December 2017 vs January 2020

Share this

For long Pak Rupee was hovering around Rs 100 against the US Dollar in open market. However since December 2017, the decline started which over the period of 18 months plunged at Rs 164 against a single Dollar.

Related: Rupee Continues to Recover Against Dollar- Will Car Prices Come Down?

Because of this car prices were increased in regular intervals with automakers never missing a chance to revise the rates even in the slightest of fluctuations. Since June 2019 however, the Rupee started to regain some of its strength back and in fact having recovered by 6% stands at Rs 154 against a Dollar today. Now instead of reducing prices, the local automakers pushed the car prices up even further which was largely attributed towards dampening their declining profit margins.

Piled up unsold stocks of local assembled cars

Car sales in Pakistan continued to show dismal performance during the first 7 months of fiscal year 2019-20 with a 44% year-on-year decline. Despite such woeful sales, price cuts are still not considered by the local assemblers however they have demanded the government to provide tax reliefs.

Related: Auto Parts Vendors Criticize Assemblers for Low Localization & Higher Prices

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 within the last 2 years. The % difference in increase is also mentioned in the table.

Car Dec 2017 Jan 2020 Price Difference %
FAW V2 1,069,000 1,574,000                     47.24%
FAW X-PV Dual A/C 919,000 1,269,000                     38.08%
FAW X-PV Standard 869,000 1,209,000                     39.12%
Honda City 1.3 M/T 1,549,000 2,329,000                     50.35%
Honda City 1.3 P/T 1,689,000 2,509,000                     48.54%
Honda City 1.5 M/T 1,599,000 2,389,000                     49.40%
Honda City 1.5 P/T 1,739,000 2,559,000                     47.15%
Honda City 1.5 Aspire M/T 1,729,000 2,559,000                     48.00%
Honda City 1.5 Aspire P/T 1,869,000 2,719,000                     45.47%
Honda Civic 1.8 CVT 2,349,000 3,549,000                     51.08%
Honda Civic 1.8 CVT Oriel 2,499,000 3,779,000                     51.22%
Honda BR-V CVT 2,229,000 3,149,000                     41.27%
Honda BR-V CVT-S 2,329,000 3,299,000                     41.64%
Toyota Corolla 1.3 XLi 1,759,000 2,519,000                     43.20%
Toyota Corolla 1.3 GLi M/T 1,889,000 2,769,000                     46.58%
Toyota Corolla 1.3 GLi A/T 1,964,000 2,869,000                     46.07%
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 Ravi 672,000 999,000                     48.66%
Suzuki Bolan 754,000 1,099,000                     45.75%
Suzuki WagonR VXR 1,054,000 1,605,000                     52.27%
Suzuki WagonR VXL 1,094,000 1,695,000                     54.93%
Suzuki Cultus VXR 1,250,000 1,745,000                     39.60%
Suzuki Cultus VXL 1,391,000 1,865,000                     34.07%
Suzuki Cultus VXL AGS 1,528,000 1,985,000                     29.90%
Suzuki Swift DLX M/T 1,327,000 1,995,000                     50.33%
Suzuki Swift DLX A/T 1,463,000 2,140,000                     46.27%

E&OE.

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. What is your opinion regarding the inflating car prices in Pakistan, let us know with your feedback.

Share this
Subscribe
Notify of
8 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Yasir Akmal
10 months ago

thats shocking… can’t believe car prices are increased this much. there is no check & balance by the govt

Mudassar Jamal
10 months ago

eye opener 😮

TiredOfThisShit
10 months ago

These auto assemblers are shameless.

Muahmmad Shoaib
10 months ago

Obviously they will never achieve there targets because of over pricing….

Muahmmad Shoaib
10 months ago

Obviously they will never achieve there targets due to over pricing or with over taxes by government…

Aftab
10 months ago

TaBdeeli I Ree

12e
10 months ago

It seems only Pakistan on this earth, where car prices are Like Nonsense.. Biggest f… Mafia

Aneesuddin Mian
10 months ago

The car prices have been increased exorbitantly high but it seems the increase is following the depreciation in rupee value in comparison to US$ which is also approximately 46% considering US$ was at Rs. 105 in December 2017 and now at Rs. 154. Nevertheless, there is an economics rule that if there is no demand, prices will go down (unless government is providing some kind of support to the car manufacturers/dealers, in which case they can hold the prices high) as is the case with crude oil pricing or else if there is consistent demand for the cars, the prices… Read more »