Automotive production is a complex business. Only 13 countries in the world have the ability to completely engineer, design and manufacture a ‘new’ car. Even though the big automobile giants spread their products worldwide, the fact still remains that the automobile-industry is highly regionalized. There are a lot factors, which are considered to be driving this phenomenon. Socioeconomic trends, Geo-political conditions, infrastructure development, customer requirements and government regulations. These factors undoubtedly play a very crucial role in shaping a localized automobile trend.
Automotive industry has always been linked to a GDP of any country, if the said country is prospering then the citizens will definitely need a medium of transport. Hence, the growth of the automotive industry is directly related to the economic conditions of a country. But what about the profits for investors? How much can they get out of a deal? Because let’s be honest, if auto-industry prospers with the growing economic trends, it begets the question of potential growth.
I took the initiative on compiling a list of vehicles and their current ‘Own Rates’ in the local market (Pakistan); and you will notice some big changes in the ‘Own Money’ of many cars, which is primarily due to the peak-low market availability of the car and public’s demand. Here I should mention that a lot of company-associated showrooms offer some of these cars only on booking and I had to resort on local market rates, which vary a lot.
Remember, I mentioned that the growth of automobile industry is highly regionalized; here is another fact regarding this statement; these regionalized trends are often accompanied by some quirks in many areas of the world. In Pakistan’s case, we have the example of ‘Own Money’. But the concepts of Own Money are divided in terms of perceptions, the businessmen will always argue in favor of it and many customers will argue against it. But the fact remains that it yields high profits.
Read More: Why investing in cars is more profitable than Fixed Deposits?
So without further ado, let’s go ahead and have a look at this list:
how to avoid Own, how much time required after booking?
Unfortunately we (Pakistanis) are helpless when it comes to ‘Own Money’, so the choice is very limited. As far as I can advise you there are two simple options available for every Pakistani who wants to buy a car
1: Pay Own Money and get the car immediately
2: Get your car booked, which generally takes 2-3 months. [But the delivery dates vary from dealer to dealer, so It is advised to get the quotation from 2-3 ‘Company Authorized Dealers (3S)’ at-least before deciding anything]
I think people who buy cars with own are morons. This way they are encouraging this shitty system.
well gentlemen………..i got my honda city without any own from honda classic islamabad in fifteen days……..
If what you say true, than I believe you were very lucky (to recieve a car without any own or refrence in 15 days) and that congratulations are in order.
sorry sir, i have booked turbo more than a month ago,have to wait for at least 3 more months whereas, one showroom wala told me that own money is around Rs 250,000/- and offered me that i will get you invoice in your own name to save you from paying transfer money…….now what do you say?
‘Own Money’ is never constant, because its not official and that is why it changes from dealer to dealer. And this article was written to share the (Approximate) ‘Own Rates’, which are fluctuating on run-time.
Totally wrong Own money values
even far away from approximate values
Civic Turbo 1.5 to 1.75
Civic 1.8 1 to 1.25
My friend also got i-Vetec Prosmatec in 15 days without own from Honda Gateway Lahore. Guess its due to low demand…
How is that ‘wrong values’, when it was clearly mentioned that these were (Approximate) values. Seriously dude,read carefully. At least somebody has done an effort to compile all this data. I myself know that some of the above mentioned rates are same here in Karachi but some are higher and some lower. ‘Own’ is ILLEGAL, which is why it is never the same in different places.
Instead of giving 40 thousand own on Wagon R vxl , I bought FAW V2 , superb and excellent , with 3 years of official warranty.
What makes “own” illegal? people have a right to ask any price for what they have, the option to book your car is always open. Own is paid because it is the right price, if it is excessive the car wouldn’t sell.
Estimated delivery time from booking should also be mentioned so that these amounts would make sense.
I booked base model 21 days ago from Honda Faisalabad, And they said you won’t get your car before two months. You are lucky one to get car in 15 days only.
Hellow EveryOne Can anyone guide me if we wana buy new card from Toyota ShowRoom what is the process and what is the initial booking amount or we have to give whole amount on booking. & what is the duration of vehicle custody without giving OWN.
Toyota does not allow charging premiums for early delivery for its official showrooms. Toyota supports the first-come-first serve model. I don’t know about the other companies operating in Pakistan. The concept of “OWN rates ” is non-existent on most other countries as it is a anti-consumer practice. Because dealers charge premiums, they keep low stock of vehicles in storage, and the overall average delivery times for non-premium customers is increased.
Still not ILLEGAL in a free market economy. How can dealerships keep stock if a car is overbooked? If Toyota supports it then they shall implement it. But they can’t because majority doesn’t mind paying a bit extra. It is irrationality at buyers end not the sellers.