The amount of price increases since January 2022 for new cars

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The amount of price increases since January 2022 for new cars
The amount of price increases since January 2022 for new cars

A number of ups and downs have occurred in Pakistan’s car industry during 2022, which has provided many opportunities for the industry. A rise in car prices and production cuts are causing the market to go through a downward trend at the moment.

As a result of the ongoing crisis in the auto sector, the automakers have cited the following reasons:

There have been price hikes by a number of car manufacturers in the past and one of them was Kia Lucky Motor Corporation (KLMC). The other manufacturers discussed were Toyota Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC), Honda Atlas Cars Limited (HACL), Master Changan Motors Limited (MCML) and Hyundai Nishat Motors Private Limited (HNMPL).

It is intended to take a look at all of the remaining car manufacturers in Pakistan, with the exception of those who only sell completely built-up cars (CBUs). Here is a table of the prices that the remaining carmakers have increased since January 2022 based on the average price of the previous year:

United Motors

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
Bravo1,149,0001,590,00038%
Alpha1,399,0001,769,00026%

Al-Haj Proton

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
Saga Standard 1.3 M/T2,149,0002,824,00031%
Saga Standard 1.3 A/T2,299,0002,999,00030%
Saga ACE 1.3 A/T2,399.0003,149,00031%
X70 Executive AWD4,590,0006,740,00047%
X70 Premium FWD4,890,0007,190,00047%

Regal Automobiles

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
Prince Pearl1,334,0001,499,00012%
DFSK Glory 580 1.5T4,649,0005,610,00021%
DFSK Glory 580 1.84,800,0005,800,00021%
DFSK Glory 580 Pro5,040,0005,806,00015%

Sazgar Engineering Works Limited

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
BAIC BJ40 Plus7,685,0009,295,00021%
Haval Jolion6,020,0006,020,0000%
Haval H6 1.5T FWD6,499,0007,425,00014%
Haval H6 2.0T AWD7,499,0008,499,00013%

Ghandhara Nissan Limited (GNL)

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
Chery Tiggo 4 Pro4,599,0005,499,00020%
Chery Tiggo 8 Pro6,599,0008,199,00024%

Peugeot Lucky Motor Corp.

ModelJanuary 2022 Price (Rs.)October 2022 Price (Rs.)% Increase
Peugeot 2008 Active5,250,0005,400,0003%
Peugeot 2008 Allure5,850,0006,100,0004%

The current state of car demand

There is no doubt that the current decline in sales is due to the fact that there is less supply of cars on the market currently. While the local car assemblers have not received more than Rs. 217 billion in advance bookings this year, despite that, the Secretary of Industries and Production noted that local car manufacturers have received more than Rs. 217 billion in advance bookings.

There were Rs. 112 billion in sales collected by Toyota Indus Motors Company (IMC) of Pakistan, while Rs. 41.66 billion and Rs. 23 billion were collected by Pak Suzuki of Pakistan and Honda Atlas of India, respectively. It would appear from this fact that people still want to buy new cars and are awaiting their availability, which may cause another massive spike in sales in the near future, which would indicate their desire to own one.

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