More carmakers announce price reduction
String of price cuts came after govt unveiled tax incentives in new policy
KARACHI:
After Pak Suzuki Motor Company and Indus Motor Company, KIA Lucky Motors, Honda Atlas Cars and Hyundai Nishat have also announced reduction in prices of their vehicles in order to pass on the benefit of tax withdrawal to consumers.
On July 7, the federal government announced tax incentives under the new auto policy, which have now sparked a string of price cuts by the auto companies.
Honda Atlas Cars reduced the price of Civic 1.5 RS Turbo by Rs135,000, which dropped from Rs4.7 million to Rs4.56 million.
Indus Motor, Suzuki reduce car prices tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
Aiming for exports
July 7, 2021
LAHORE: Pakistan’s auto industry is now looking at the government to come up with a new auto policy, as the previous long-term document that had been in effect since 2016 has expired.
Auto policy 2016-21 gave consumers greater choice as new players challenged existing car assemblers.
The new policy should be announced after analysing the impact of the expired policy. A look at the 2016-21 policy shows that it was only partially successful as new entrants made their mark in the market.
The monopoly of three Japanese manufacturers was only partially dented. Moreover, European brands opted out after showing initial interest. French automaker Renault announced to pull off its investment due to economic uncertainties.
KARACHI: The government must overhaul its auto policy to end roadblocks in the way of this sector s exports with Electric Vehicles in the driving seat of its future plans, an industry official said.