In a surprise move, amid circumstances where the auto sector persists in hiking prices to offset the appreciated dollar against rupee value, Audi Premier Motors on Friday announced a considerable drop in prices of their electric sport utility vehicles (e-SUV).
As per details, the electric sport utility vehicle (SUV) witnessed a price cut owing to the expiration of a Regulatory Duty on Electric Vehicles (EVs) on November 21, 2022. Accordingly, the e-Tron 50 observed a price drop of Rs10.1million, the e-Tron SB saw a decrease of Rs11.3million and the e-Tron GT has seen a price cut of Rs13.8million. The company has also announced a massive drop of Rs19.5million in the price of the RS e-Tron GT.
In SRO1571(I)/2022, the Federal Board of Revenue (FBR) had increased the regulatory duty on EVs and stated that the notification “shall take effect on and from the 22nd day of August, 2022 till the 21st day of November, 2022.”
Speaking to The Express Tribune, Arif Habib Limited(AHL) Head of Research Tahir Abbas said, “The government increased regulatory duty from 0% to 100% on EV complete built units (CBUs) which was applicable from August 22, 2022, till November 21, 2022. Moreover, the government has not extended the SRO resulting in a price decline for these CBUs.”
The new cost of the e-Tron 50 is Rs22,300,000 compared to Rs32,450,000. The e-Tron SB is now Rs24,850,000 against the old price of Rs36,150,000, the revised price of the e-Tron GT is Rs34,500,000 compared to the old price of Rs48,325,000, and the RS e-Tron GT will now cost Rs48,500,000 against the old Rs68,000,000.
Published in The Express Tribune, November 26th, 2022.
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