Expected Huge Increase in Car Prices in November 2021

Expected Huge Increase in Car Prices in November 2021

This article is about the Expected Huge Increase in Car Prices in November 2021 in Pakistan bad news for car buyers and yes the reason is inflation in rupees against the dollar.

Automobile manufacturers intend to raise car prices very soon, despite growing raw material costs, logistical challenges, and a chip shortage.

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According to media sources, the corporations are merely delaying owing to the government’s request, despite the continued supply-chain crises throughout the world. While speaking with the media, an industry source said that prices might rise by 5% beginning November 1, 2021.

Ali Asghar Jamali, Chairman of Pakistan Automotive Manufacturers Association (PAMA) and CEO of Toyota Indus Motor Company (IMC), also stated that car costs might rise “anytime now,” since the firms have been complying with the government’s desire to keep vehicle prices stable for some time.

The recent fall of the Pakistani rupee has also played a significant impact in raising automakers’ production costs.

According to Arsalan Hanif, an analyst at Arif Habib Limited, automobile makers have absorbed up to 80% of the currency depreciation in manufacturing costs because CKD kits imported from other countries contain all components of cars produced in Pakistan.

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Despite the duty and tax reliefs offered to automakers as a result of the passage of the 2021-22 budget, the businesses are now battling to maintain car pricing due to increased manufacturing costs, which is progressively driving the auto sector towards an imminent wave of price rises.

What you think let us know in the comments box

Professionally Mechanical Engineer. Love to try new things. Traveler and Foody. If you have any suggestions you are always welcome.

  • Shoaib
    November 11, 2021 at 8:32 pm

    Is Cultus prize be change or not ?

    • Waqas Afzal
      November 11, 2021 at 11:31 pm

      Yes will be increased. Toyota, Honda, and KIA have already increased prices now it’s time for Suzuki very soon.

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