Owing to the government’s commitment to the International Monetary Fund (IMF), the US dollar has taken a sudden plunge of Rs.10, reaching at Rs 144.
Here’s the weekly dollar trend, taken from Forex.pk:
The US dollar, which was traded at Rs.134 on 29th November, opened at Rs. 144 on Friday 30th November 2018. This free fall in the Pakistani rupee will affect many industries, and the automotive industry is no exception.
Throughout this year, following the rising dollar trend, all the local automakers hiked the car prices multiple times, and with the last price hike by Toyota IMC and Honda Pakistan, the companies clearly mentioned that if the dollar goes up once again, the customers should expect another price increase that will be effective from January 2019.
For now, there are no comments from any of the local automakers, however, here are the car prices, which the companies have shared in the last price revision.
Below are the revised car prices by Toyota:
Below are the revised car prices by Honda Pakistan:
Apart from this, Pak Suzuki has revised the prices of its local cars and CBU(s), however, the company did not mention another price increase following the rise in the dollar. Below are the revised prices by Pak Suzuki, that came into effect from November 2018.
|Models||New prices||Old prices|
|Suzuki Ciaz manual||Rs1.960 million||Rs1.859 million|
|Suzuki Ciaz automatic||Rs2.100 million||Rs1.999 million|
|APV 1.5L||Rs2.718 million||Rs2.418 million|
|Suzuki Vitara GLX||Rs3.890 million||Rs3.790 million|
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