KARACHI: Dewan Farooq Motor Company (DFM) has once again raised prices of its all models including Shehzore truck from Rs 30,000 to Rs 50,000 from last Friday, the industry sources told Daily Times here on Saturday.
Dewan Farooq Motors is manufacturing three models of Hyundai Santro and a Shehzore Pick Up truck, which are becoming most popular in the country after Suzuki. “This is a second raise in the price of Santro and Shehzore during last six months,” said a dealer of the company. The company has not given any details or reason of this raise, the dealer said.
“The prices have gone up, but it’s a corporate decision and we cannot comment on it,” said an official of the company. The dealer said there is no modification in the models, but the company has sent a letter increasing the prices on all the models of Santro and Shehzore Pick Up, he added.
The company has increased Rs 50,000 on Hyundai Shehzore Pick Up truck and fixed new price of Rs 6,49,000, while Rs 40,000 on Santro executive to Rs 6,39,000, Rs 30,000 on Santro GV to Rs 6,09,000 and Rs 30,000 on Santro Club and fixed new price of Rs 5,59,000.
The authorized dealers are already charging own-money of Rs 1,25000 on different Santro models throughout the country as its all models are in demand, a dealer said. H.M. Shahzad, chairman All Pakistan Motor Dealers Association, said, “despite the reduction in the prices of cars in Japan and Korea up to Rs 50,000 to Rs 75,000, the local car manufacturers and assemblers are continuously increasing car unit prices in Pakistan.” The local and international prices of steel have also came down.
“I don’t know why Dewan Motor increased this prices, but this would also provoke Suzuki and other manufacturers to increase their prices,” he added.
“Whenever the government would not allow the import of used and new cars at low duty rates, the auto manufacturers and assemblers would uphold their monopoly in the industry,” Mr Shahzad said.
Recently, the Economic Coordination Committee (ECC) has further relaxed the duty structure for the auto industry under which they can import 1350cc cars under the slab of 1300cc.
Dewan Farooq Motor is also a dealer of BMW cars in Pakistan and setting up its outlets in Sialkot and Faisalabad. They had already introduced BMW cars in Karachi, Lahore, Islamabad, the company source said.