With depreciating economic graphs, the car price hike series in the country is also in full swing. After months, the local car assemblers are increasing car prices twice a week. Following Hyundai, Peugeot Pakistan took the turn – inched up the price of Peugeot 2008 for the second time in the last 7 days.
The company has increased the price of its crossover SUV up to whopping Rs. 500,000. Earlier on 21 February, Peugeot 2008 observed a price jump of up to Rs. 57000 in the face of GST hiked up by 1%.
New Price of Peugeot 2008
Here are the new prices of both variants.
- The new price of Peugeot 2008 Active variant is Rs. 6,450,000 compared to Rs. 5,959,000. Means, it has observed a hike of Rs. 500,000.
- Meanwhile, the Peugeot 2008 Allure variant will now cost Rs. 7,150,000 instead of Rs. 6,656,000. This variant observed an increase of Rs. 494,000.
It is pertinent to mention that the above are new Ex-factory prices.
The auto industry has been very unstable for the last couple of years due to increase rate of the US dollar against the rupee, a ban on imports, increase in freight charges, and last but not least, no LCs by the State Bank of Pakistan (SBP). These issues have led to non-production days in the auto industry, while the latest report revealed that over 250,000 people had lost their jobs in the industry.
Just yesterday, three companies including Kia Lucky Motors, Peugeot Pakistan and Hyundai Nishat increased the prices once again citing PKR depreciation and GST increase. However, it is pertinent to mention that these companies have already hiked the rates citing the same reasons a week ago. These continuous hikes will further harm the market and especially consumers and their buying power and the government needs to take steps immediately to counter this problem.
What do you think about the ongoing price hike series? Tell us in the comments section.
I have commented earlier as well on issue of price hike. If no LCs, ban on imports imposed, no duties being paid for car spares then would price hike resolve issues? Of course not. When nothing being paid by companies then why are they increasing price day by day due 💵 dollar conversion rates ? In Pakistan everything is possible btw !