Car makers pass on duty increase to consumers
Two car makers – Pak Suzuki and Honda Atlas – officially announced increase in different variants of their cars.
KARACHI:
All leading car makers increased their prices within two days of the government increasing a duty applicable on the automobile sector.
Two car makers – Pak Suzuki and Honda Atlas – officially announced increase in different variants of their cars on Thursday.
The government on Tuesday increased special excise duty, applicable on the automobile sector, to 2.5 per cent from one per cent –expected to generate Rs6 to Rs8 billion in three months.
Pak Suzuki Motor Company increased prices by Rs6,000 to Rs16,000 while Honda Atlas by Rs17,000 to Rs30,000, according to company officials.
“Customers taking delivery of cars from March 16 onwards will have to pay the increase, regardless of them booking vehicles prior to the decision,” said spokesperson of Pak Suzuki Shafiq Ahmad Shaikh.
Honda Atlas raised prices of its City variant by Rs17,000 and Civic by Rs22,000 to Rs30,000.
Top of the line Honda Civic will now cost Rs2,065,000, said Honda Quaideen General Manager Hussain Abbas.
Indus Motor, maker of Toyota Corolla, announced its increase a day earlier from its counterparts on Wednesday.
While Honda and Suzuki only passed on the impact of higher special excise duty to buyers, Indus raised prices of Cuore and Hilux by another Rs35,000 to Rs55,000 and Rs20,000 to Rs25,000, respectively, to adjust higher input costs as well.
The smaller engine sized car of Indus Motor, Daihatsu Cuore with this hike witnessed the highest increase among all cars.
The price of Toyota Corolla and Toyota Altis rose by Rs10,000 while prices of Toyota Hilux variants upto Rs25,000.
Published in The Express Tribune, March 18th, 2011.
All leading car makers increased their prices within two days of the government increasing a duty applicable on the automobile sector.
Two car makers – Pak Suzuki and Honda Atlas – officially announced increase in different variants of their cars on Thursday.
The government on Tuesday increased special excise duty, applicable on the automobile sector, to 2.5 per cent from one per cent –expected to generate Rs6 to Rs8 billion in three months.
Pak Suzuki Motor Company increased prices by Rs6,000 to Rs16,000 while Honda Atlas by Rs17,000 to Rs30,000, according to company officials.
“Customers taking delivery of cars from March 16 onwards will have to pay the increase, regardless of them booking vehicles prior to the decision,” said spokesperson of Pak Suzuki Shafiq Ahmad Shaikh.
Honda Atlas raised prices of its City variant by Rs17,000 and Civic by Rs22,000 to Rs30,000.
Top of the line Honda Civic will now cost Rs2,065,000, said Honda Quaideen General Manager Hussain Abbas.
Indus Motor, maker of Toyota Corolla, announced its increase a day earlier from its counterparts on Wednesday.
While Honda and Suzuki only passed on the impact of higher special excise duty to buyers, Indus raised prices of Cuore and Hilux by another Rs35,000 to Rs55,000 and Rs20,000 to Rs25,000, respectively, to adjust higher input costs as well.
The smaller engine sized car of Indus Motor, Daihatsu Cuore with this hike witnessed the highest increase among all cars.
The price of Toyota Corolla and Toyota Altis rose by Rs10,000 while prices of Toyota Hilux variants upto Rs25,000.
Published in The Express Tribune, March 18th, 2011.