Despite the predicament situation of our country, Federal Bureau of Statistic reported that production of cars and jeeps has increased by 15.10% during the first seven months of 2011. 75,537 cars and jeeps were produced during January-July (2011) against the production of 65626 cars and jeeps during last year. Productions of motorcycles increased by 17.98%, 9,15,961 motorcycles were produced during January-July (2011) whereas 7,76,369 motorcycles were produced during the same period last year.
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The production of tractors, trucks and buses decreased by 3.30 percent, 12.20 percent and 26.06 percent respectively during July-January (2011) as compared to the same period of last year, Federal Bureau of Statistics revealed.
Even though production has increased, auto-assemblers have increased the prices of their cars after addition of 1.5% SED (Special Excise Duty). The increase in SED will be transferred down to the consumer. A statement issued by IMC (Indus Motor Company) said that customers taking delivery of cars from March 16 onwards will have to pay the increase, regardless of them booking vehicles prior to the decision.
Toyota Corolla and Altis will be increased by PKR 25,000, Daihatsu Coure by PKR 10,000 and upto PKR 25,000 increase in Hilux variants due to hike in FED. Moreover, the company further increased the prices by PKR 35,000 on Daihatsu Coure and PKR 45,000 for manual and automatic variants, and PKR 20,000 and PKR 25,000 for Hilux 4X2 and Hilux 4X4 variants, respectively, due to rising input prices and a rapidly depreciating currency have forced the company to increase prices.
Therefore, the total increase on Coure would be between PKR 45,000 and PKR 65,000, while Hilux’s prices will be raised between PKR 30,000 to PKR 55,000.
Pak-Suzuki also increased the prices on all its cars and motorcycles by 1.5 %, PKR 6,000 to 16,000 on different variants. Honda Atlas also increased the prices of City and Civic by PKR 17,000 and PKR 24,000 respectively.
The increase in SED will also affect importers, and they will also be passing the extra burden to the consumers making the imported cars expensive as well.