For the local auto industry, 2022 brought nothing but a fuss laced with disturbing growth, prolonged production cuts, dwindling sales, and drifting car prices trends. Simply, the reason behind is prevalent poor political and economic dynamics.
Interestingly, in recent reports, the incumbent government and car makers are hitting each other for the recent car price hikes. In the past few months, price hikes, production cuts, import curbs, and surge in taxes and duties have reversed the fortunes.
BIG 3 and Car Price Hike Series
“BIG 3” – Pakistan Suzuki, Honda Atlas, and Toyota Pakistan – country’s ultra-famous car makers also feel the heat of inflation and the prevailing ecopolitical crisis. Resultantly, the local assemblers raised their car prices in a row for the past few years.
Here are the cars that have observed the maximum price jump until now:
- Pakistan Suzuki Motor Company increased the Price of Cultus by 36%.
- Indus Motor Company hiked the price of Corolla Grande and Hilux by 37%.
- Compared to its peers, Honda did the least and surged the Civic price by 25%.
Here is how much Toyota, Honda, and Toyota increased their car prices since January:
1- Pakistan Suzuki (PSMC)
2- Toyota Pakistan (IMC)
3- Honda Atlas (HACPL)
what do you think about these prices hikes by the famous BIG 3? Drop your thoughts in the comment section.
