Hina Mahgul Rind
KARACHI: After a ban on import of five-year-old used cars in the budget 2007-08, the local assemblers have not only increased the prices but the premium charged for delivery known as own money is being increased gradually.
The unjustified trend of charging own money was almost over with the arrival of used cars in the market.
A market survey conducted by The News shows that the prices of all major brands such as Toyota, Honda and Pak Suzuki have shot up after the budget. Market dealers also expect that the prices of Pak Suzuki and Honda will further increase from September 2007.
In small cars, the price of Toyota Cuore that was Rs434,000 till June 8, 2007 has gone up to Rs451,000. The price of Toyota Cuore Eco CNG was Rs4,74,000 prior to budget but it is now Rs4,92,000. Similarly, tag on Cuore automatic has increased to Rs4,82,000 and the own money on Cuore has gone up from Rs5000 to Rs8000.
Toyota Corolla prices have also shot with Corolla XLI petrol tagged Rs9,15,000 from Rs8,79,000 earlier and the own money which was around Rs8000-10,000 has touched Rs45,000; Corolla GLI now worth Rs10,5,000 was selling for Rs9,69,000 prior to budget and its own money was Rs10,000 that is now Rs50,000. Similarly the latest prices of Toyota Altis, Corolla Diesel 2.OD and Toyota 2.OX Fc is Rs13,70,000, Rs10,80,000, and Rs11,60,000 respectively.
Pak Suzuki that happens to be the most popular and favourite brand in Pakistan has also registered an increase in prices that are expected to further rise and the final price list will come in the market in beginning of the September, says Amir Moten, owner of Sadiq Motors.
Amongst Suzuki brands, the most used vehicles are Mehran, Cultus, Alto, Liana, Bolan Van and Ravi Pickup. The existing price of Suzuki Mehran VXR CNG is Rs395000 and the its own money has exceeded from Rs6000 to Rs25000, Mehran VX is now sold at 3,20,000 and its own money has increased from Rs4,000 to Rs20,000; the cost of Suzuki Alto VXR is now Rs496,000 and its own money has shot up from Rs6000 to Rs20,000 while the price of Alto VXR CNG has also increased to Rs5,08,383 and its own money gone up from Rs6000 to Rs22,000.
Suzuki Cultus VXR’s booking price is now Rs5,60,000 and its own money is Rs25000. Cultus VXR CNG is worth Rs6,00,000 and its own money is around Rs25,000.
Suzuki Ravi pick-up is worth Rs3,44,000 and own money on Ravi is Rs60,000 which is quite a high amount to be paid as own money. Similarly Suzuki Bolan van costs Rs3,67,000 and own money on it Rs60,000.
The prices of Honda cars have also increased after June 9, 2007. Honda City 1DSi tagged at Rs8,46,000 before June 9 now costs Rs8,52,000 while the price of the same model with automatic transmission is fetching Rs9,07,000, up from Rs9,00,000. Previously there was no own money on Honda vehicles but now it is around Rs10,000 to Rs12,000.
Honda City VTEC which was selling bellow Rs9,99,000 prior to budget is now fetching Rs10,36,000.
Honda Civic I-Vtec -M/T costs Rs10,48,000 while earlier it was Rs10,36,000 and its own money is around 10,000. Honda Prosmatic is being sold at Rs13,88,000 against Rs13, 76,000 earlier and the own money on this model is Rs50,000. The price of Honda Civic Vti-Oriel-M/T has increased to Rs14,80,000 from Rs14,66,000 with an own money of 60,000. Honda Civic VTI Prismatic costs Rs15,20,000 against Rs15,06,000 with own money up at Rs100,000.