The year 2022 has been a disaster for Pakistan’s auto industry. Car prices have skyrocketed as a result of the economic downturn, putting them out of reach for a large number of buyers.
Despite having achieved a high degree of localised manufacturing in Pakistan, Pak Suzuki Motor Company (PSMC), Toyota Indus Motor Company (IMC), and Honda Atlas Cars Limited (HACL) have increased the prices of their vehicles by large margins.
From January to December 2022, here’s how their old and new prices compare:
IMC Toyota
| Variants | Price in Jan 2022 (Rs.) | Price in Dec 2022 (Rs.) | Increase (Rs.) | ||||||||||||||||||||||||
|
Toyota Yaris
| |||||||||||||||||||||||||||
Toyota Corolla
| Altis 1.6 M/T | 3,380,000 | 4,569,000 | 1,189,000 |
| Altis 1.6 CVT | 3,534,000 | 4,979,000 | 1,445,000 |
| Altis SE 1.6 CVT | 3,892,000 | 5,479,000 | 1,587,000 |
| Altis 1.8 CVT | 3,872,000 | 5,639,000 | 1,747,000 |
| Altis 1.8 Grande CVT Beige Interior | 4,179,000 | 5,709,000 | 1,530,000 |
| Altis 1.8 Grande CVT Black Interior | 4,199,000 | 5,749,000 | 1,550,000 |
Toyota Hilux
| Revo G 2.8 M/T | 6,947,000 | 9,839,000 | 2,892,000 |
| Revo G 2.8 A/T | 7,306,000 | 10,309,000 | 3,003,000 |
| Revo V 2.8 A/T | 8,032,000 | 10,599,000 | 2,567,000 |
| Revo Rocco | 8,472,000 | 11,179,000 | 2,727,000 |
Toyota Fortuner
| Fortuner G A/T | 8,569,000 | 11,579,000 | 3,010,000 |
| Fortuner V A/T | 9,941,000 | 13,259,000 | 3,318,000 |
| Fortuner Sigma4 A/T | 10,392,000 | 13,969,000 | 3,304,000 |
| Fortuner Legender A/T | 10,842,000 | 14,699,000 | 3,857,000 |
Honda Atlas
City
|
Variants |
Price in January 2022 (Rs.) |
Price in December 2022 (Rs.) |
Increase (Rs.) |
| 1.2 M/T | 2,729,000 | 3,769,000 | 1,040,000 |
| 1.2 CVT | 2,949,000 | 3,899,000 | 950,000 |
| 1.5 CVT | 3,146,000 | 4,139,000 | 993,000 |
| 1.5 Aspire M/T | 3,279,000 | 4,299,000 | 1,020,000 |
| 1.5 Aspire CVT | 3,454,000 | 4,479,000 | 1,025,000 |
| 1.2 M/T | 2,729,000 | 3,769,000 | 1,040,000 |
Civic
| Variants |
Price in January 2022 (Rs.) |
Price in December 2022 (Rs.) |
Increase (Rs.) |
| Civic M-CVT | 5,099,000 | 6,349,000 | 1,250,000 |
| Civic Oriel M-CVT | 5,399,000 | 6,599,000 | 1,200,000 |
| Civic RS LL-CVT | 6,149,000 | 7,549,000 | 1,400,000 |
HR-V
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| VTi | N/a | 5,999,000 | N/a |
| VTi S | N/a | 6,199,000 | N/a |
BR-V
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| 1.5 iVTEC S CVT | 3,689,000 | 4,939,000 | 1,250,000 |
Pak Suzuki
Alto
| Variants | Price in January 2022 (Rs.) | Price in December 2022 (Rs.) | Increase (Rs.) |
| Alto VX | 1,308,000 | 1,699,000 | 391,000 |
| Alto VXR | 1,546,000 | 1,976,000 | 430,000 |
| Alto VXR AGS | N/a | 2,120,000 | N/a |
| Alto VXL AGS | 1,747,000 | 2,223,000 | 476,000 |
Wagon R
| Wagon R VXR | 1,877,000 | 2,421,000 | 544,000 |
| Wagon R VXL | 1,975,000 | 2,564,000 | 589,000 |
| Wagon R AGS | 2,158,000 | 2,802,000 | 644,000 |
Cultus
| Cultus VXR | 2,050,000 | 2,754,000 | 704,000 |
| Cultus VXL | 2,244,000 | 3,024,000 | 780,000 |
| Cultus AGS | 2,422,000 | 3,234,000 | 812,000 |
Swift
| Swift GL M/T | 2,499,000 | 3,180,000 | 681,000 |
| Swift GL CVT | 2,699,000 | 3,420,000 | 721,000 |
| Swift GL Limited Edition CVT | N/a | 3,450,000 | N/a |
| Swift GLX CVT | 2,899,000 | 3,760,000 | 861,000 |
Bolan
| Bolan VX | 1,176,000 | 1,500,000 | 324,000 |
Earlier this year, the new regime drastically altered policies to halt auto-sector imports. Among the changes were:
- CBU vehicle imports are subject to 100% regulatory duties (RDs).
- The State Bank of Pakistan has approved a Letter of Credit (LC) for limited CKD imports (SBP).
- SBP imposes restrictions on car financing.
Car sales have decreased significantly compared to last year as a result of these and a few other steps. Furthermore, due to the non-approval of LCs, automakers are having difficulty importing assembly kits, forcing them to observe non-production days (NPDs).
To read our blog on “Here’s how much Honda, Yamaha, and Suzuki raised bikes prices,” click here