Prince Pearl, Glory 580 Pro Prices Rise Due to New Tax

Jawad

03 Jul 2024

298

Prince Pearl, Glory 580 Pro Prices Rise Due to New Tax

Two weeks ago, the federal government introduced a new withholding tax in its fiscal budget 2024-25, foreseeing an imminent rise in car prices upon the budget's approval. As anticipated, this expectation has materialized, impacting consumers and manufacturers alike.

Change in Tax Policy

A recent amendment has altered the tax structure for cars, now imposing withholding tax based on the ex-factory price rather than engine capacity, as previously practiced. This significant policy change has compelled car manufacturers to swiftly recalibrate their pricing strategies to comply with the new regulations.

Industry Response

In response to the revised tax regulations, leading manufacturers like Regal Automobiles have promptly adjusted their car prices. Following the proactive steps taken by MG Pakistan, these adjustments reflect the industry's proactive stance in aligning with the government's fiscal policies and ensuring compliance while managing consumer expectations.

Updated Prices

Regal Automobiles has issued official notifications detailing the increased prices:

DFSK Glory 580 Pro: Customers will incur an additional Rs. 135,800 as advance tax.

Prince-DFSK K07 (Humsafar): The new advance tax is Rs. 26,690.

Prince Pearl: Customers will now pay Rs. 9,250 as advance tax.

Current Vehicle Prices

Here are the revised prices of these vehicles:

DFSK Glory 580 Pro : Rs. 6,790,000

Prince-DFSK K07: Rs. 2,669,000

Prince Pearl: Rs. 1,850,000

Terms & Conditions

> The prices listed are the maximum suggested retail price, ex-factory per unit inclusive of taxes and dealer commission.

> Any fluctuations in price due to changes in Pak Rupee parity against the US Dollar, government levies, tariff structures, fiscal policies, import policies, etc., will be borne by the customer.

> Prices are provisional and subject to change without prior notice; the prevailing price at the time of delivery will apply.

Prince Pearl price Glory 580 Pro cost New tax impact Car price increase Vehicle tax hike Price rise 2024 Car tax changes Prince Pearl tax Glory 580 Pro tax Price update cars

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