Prices Of Following Popular Vehicles Are Likely To Increase

Everything in the country is on the rise. In the same way, the Pakistani auto market is also affected. Many auto companies and motorbike manufacturer are already been increasing the prices. But a new wave of huge price hike in the auto sector is expected to come because the government is likely to go increase the regulatory as according to sources.

The factors involved in expelling Pakistani automakers to increases the prices of vehicles again include devaluation of Rupee against US Dollar, increasing prices of raw materials and freight, COVID-19 crises causing global chip shortage.

In a recent development, Ministry of Industries and production has officially released a proposal to the Tariff Policy Board. In the proposal, the Ministry has recommended to increase the Regulatory Duty RD up to 50% on the imports of CBU Electric Vehicles EVs, hybrid electric vehicles HEVs, and regular internal combustion engine ICE vehicles to reduce the increasing import bill and current account deficit.

The following vehicles will be imposed massive RD and other tariffs:

 CBU Electric Vehicles EVs with battery packs over 50 kWh.
 Combustible fuel-powered CBU vehicles engine displacement unspecified.
 CBU vehicles with hybrid power trains with engine displacements between 1501cc and 1800cc.
 SUVs with engine displacements of 1501cc and above a federal excise duty increase from five to ten percent has been proposed.

So here are the vehicles which are likely to get the huge price hike after imposition of RD and other Tariffs.



Stay tuned with Gari.PK to get latest news and updates from the local and international automotives sector. You can also check the Car Prices 2021 Pakistan for all new cars and used cars and prices of motorbikes in Pakistan as well.