Al-Haj Automotive has announced a significant price increase on the Proton Saga and X70 due to the recent crash in local currency. In the past, Proton had increased the price of both cars by three times in 2022.
The base model of Pakistan’s most affordable sedan currently is priced at 2.82 million, and the most expensive model will be priced at around 3 million rupees. 3.15 million.
As of today, the new prices for proton vehicles are as the following:
|Model||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
|Saga Standard Manual||2,579,000||2,824,000||245,000|
|Saga Standard Automatic||2,729,000||2,999,000||270,000|
|Saga ACE Automatic||2,849,000||3,149,000||300,000|
|X70 Executive AWD||6,050,000||6,850,000||800,000|
|X70 Premium FWD||6,400,000||7,300,000||900,000|
It is worth noting that since April the Pakistani Rupee (PKR) has dropped about 30 percent against the US dollar, making it more difficult for industries dependent on imports such as the auto industry to keep their prices for products.
As a result of the fall as well as the rising steel and shipping costs, Al-Haj Proton has increased the price of its cars. It is important to note that the Rupee has seen a dramatic increase in the past two days. It closed at 226.15 in comparison to the US Dollar on 4th August.
An Industrywide Problem
This month, Honda Atlas Cars Limited (HACL) hosted an investor briefing in the week that highlighted future opportunities. The company was expecting a decrease in sales as high as 35 percent as a result of supply chain issues.
In addition, HACL, along with Toyota Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC), Kia Luck Motor Corporation (KLMC) and so on. will observe non-production dates due to delays in approval of the credit letter (LC) approval of the CKD imports.
The issue has led to many months of delays in the delivery process that are slowly impacting the demand for cars. With these concerns looming over the car industry, sales are likely to see a drop in the coming days.