Three prominent automakers in Pakistan including Suzuki, Honda, and Hyundai are expected to announce a price hike within two weeks, due to the depreciation of the rupee against the US dollar and rising prices of imported raw materials.
Analysts expect car prices to increase by up to 15 per cent. It is worth noting that Pak Suzuki and Kia Lucky Motors have already announced a price hike for their vehicles.
Experts predict that more auto assemblers and Original Equipment Manufacturers (OEM) are expected to jump on the price hike bandwagon.
Considering the imminent price hike, Suzuki Bolan may witness an increase of Rs. 172,000 in its current price of Rs. 1.17 million, which will cost Rs. 1.35 million after the hike.
The all-new Honda Civic Vti Oriel 2022 which costs Rs. 5.4 million is expected to be priced at Rs. 6.2 million after a massive increase of Rs. 810,000 in its current price.
Hyundai’s only sedan, the 2.0 Hyundai Elantra GLS after getting the expected hike will cost Rs. 5.1 million as compared to its current price of Rs. 4.4 million.
Read more: ‘Hamaray paas paisa ziada aya hai’: PM Khan reveals reason for slashing petrol, diesel prices
Rising inflation and hefty petrol prices have immensely impacted the lives of people, as it has forced several car owners to switch to a two-wheeler for daily commuting.
