Automakers, beset by exchange rate volatility, rising taxes, and dwindling parts supply, have recently given their consumers a major shock by raising prices.
Some of the companies that have revised their rates are Indus Motor Corporation (IMC), Kia Lucky Motor Corporation (KLMC), Honda Atlas Cars Limited (HACL), and Hyundai Nishat Motors.
Indus Motor Corporation
According to documents available with Dawn.com, IMC raised prices by Rs760,000 to Rs3.16 million in various models. Citing the devaluation of the rupee, the increase in taxes and tariffs, including the capital value tax (CVT),. The increase in the prices of raw materials and the cost of transportation.
The new price of the Corolla 1.6 MT, AT and SE models are Rs4.899m, Rs5.139m, and Rs5.639m. While the 1.8 CVT, CVTSR, and CVTSR Black models will have a new price of Rs6.679m, Rs6.149m and Rs6.189m, respectively.
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The new prices of Yaris 1.3MT, CVT, HMT, and HCVT are Rs3.799m, Rs4.039m, Rs3.999m, and Rs4.209m. Yaris 1.5MT and 1.5CVT sold at Rs4.309m and Rs4.569m. Revo GMT, GAT, VAT and VAT Rocco sold at Rs9.819m, Rs10.299m, Rs11.349m, and Rs11.999m.
The new rates of Fortuner LO Petrol, High Petrol, Diesel and Diesel Legender are Rs12.489m, Rs14.279m, Rs15.069m and Rs15.839m.
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IMC informed its distributors that these prices are indicative and provisional. And, are subject to change and will not construed as definitive.
The price at the time of delivery will remain applicable.
Kia Lucky Motor Corporation
KLMC raised the prices of different models by 500,000 to 1.1 million.
The new prices of Picanto MT and AT are 3.10 m and 3.20 m, while Sportage Alpha, FWD and AWD are 6.25 m, 6.75 m and 7.25 m.
Meanwhile, Sorento 2.4L FWD and AWD cost 7.80m and 8.50m, while the 3.5L also costs 8.50m.
Honda Atlas Cars Ltd
Automotive sources said HACL had informed its dealers about a possible price increase from Rs785,000 to Rs1.45 million in Honda City, Civic and BR-V starting July 30 (today).
According to the documents available with Dawn.com, the indicative prices of City MT 1.2L, CVT 1.2L and CVT 1.5L are 4,049m, 4,199m and 4,439m.
The BR-V is priced at 5,299 m, while the Civic 1.5L is priced at 7,099 m.
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