The budget for 2021-22 has been revealed, revealing a number of anticipated policy changes. There has been speculation regarding the changes that are expected in the new auto policy, since it has been widely reported that local vehicle prices may finally stabilize.
The government has announced that the Federal Excise Duty (FED) on domestically built cars with an engine displacement of 850cc or less has been eliminated. Prior to the development, the duty rate was 2.5 percent. Federal Finance Minister Shaukat Tareen also stated during the session that the sales tax on the aforementioned sector of automobiles has been reduced from 17 percent to 12.5 percent, resulting in a 4.5 percent reduction in tax rates.
Under these 03 programmed, old and secondhand Asian-made vehicles can be imported against payment of the following amounts:
S.No.
Vehicles of Asian Makes meant for transportation of persons
Duty and Taxes in US$ or equivalent amount in Pak
01.
Upto 800 cc
US$ 4,800
02.
801cc to 1000cc
US$6,000
03.
From 1001 cc to 1300cc
US$13,200
04.
From 1301cc to 1500cc
US$18,590
05.
From 1501cc to 1600cc
US$22,550
06.
From 1601cc to 1800cc (Excluding Jeeps)
US$27,940
According to reports, HM Shehzad, Chairman of the All Pakistan Motor Dealers Association (APDMA), recently recommended that the government make modifications to the new car policy that would be adopted when the 2021-22 budget is presented.
Electric vehicles:
Electric car imports would be free from VAT, but domestically made electric vehicles will be subject to a 1% sales tax. The government would also levy a “on money” tax on automobiles that are sold without being registered. “On money” or premium refers to a procedure in which anxious customers with extra funds pay a premium to vehicle dealers in exchange for immediate delivery rather than waiting months.
Tarin proposed measures for electric vehicles during his budget address, saying that the government was supporting the usage and manufacture of electric vehicles to reduce reliance on gasoline, offer inexpensive transportation to the general people, and minimise environmental effect. To achieve these aims, substantial tax relief measures for electric cars were proposed, including a tax exemption on the import of fully knocked down (CKD) kits for local electric vehicle production.
In addition, the sales tax on domestically made electric vehicles was reduced from 17 percent to 1 percent, while the value added tax on imported electric vehicles was eliminated. Electric cars will also be exempt from federal excise taxes. Hanif emphasized that tax breaks and exemptions for electric cars will help to create a more fuel-efficient and environmentally friendly economy.
Al-Haj Rolls Out the First Locally Assembled Proton-X70
January 20, 2022 / By Zunair Tahir / News Pakistan
Through its state-of-the-art car assembly factory, Al-Haj Automotive (Proton Pakistan) has finally rolled out the first locally made Proton X70. It is described by Proton as “the first intelligent SUV to be produced in Pakistan.”
After a lengthy wait, the locally manufactured Proton X70 has finally begun to roll off the production lines. The car was first introduced in Pakistan in December 2020, and many clients are still waiting for CKD manufactured units to arrive. The official Proton Pakistan website, however, states that delivery of the locally produced X70 would begin in March 2022.
PRICE:
The X70 SUV is now available in two models:
Customers in Pakistan may rejoice, since there is a strong indication that the SUV would be available in showrooms soon as a locally produced version.
Executive All-Wheel Drive (AWD) that costs PKR. 4,590,000
Premium Front Wheel Drive (FWD) that costs PKR. 4,890,000
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Proton Price List In Pakistan
Although Proton claims the X70 as Pakistan’s first intelligent SUV, the honor goes to the DFSK Glory 580 Pro, an intelligent 7-seat CUV with 100 voice commands, including 28 that are particularly suited for Pakistan. Furthermore, the car has already been in the hands of Pakistani clients for almost a year.
Furthermore, as automakers in Pakistan are already in the process of announcing updated pricing, the impact of the current tariffs and taxes imposed by the government in the recently approved supplementary finance bill is likely to be felt on both Saga and X70. Al-Haj Proton, on the other hand, has yet to release new prices for its models.
In Pakistan, a New Electric Car is Will Be Available for just PKR. 3 Per kilometer
January 19, 2022 / By Zunair Tahir / News Pakistan
Electric Cars EV
Good news for Pakistanis, Sitara and Tesla have introduced ‘Multi Purpose Commercial Electric Vehicles’ and ‘EV Charger‘ and ‘AC Charger‘ for charging them.
According to the report, these vehicles have been imported from China by Sitara Engineers Faisalabad and Tesla Industries Islamabad under joint ventures and they will start assembling in Pakistan by next year. It travels 250 km and has a maximum range of 300 km while the battery life is close to 1 million km. The company has also announced a local warranty of 1.5 million kilometers or five years to be completed first.
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Pak Suzuki May Debut the New Swift Next Month
Those who buy electric vehicles get rid of petrol or diesel as well as mobile oil and filter replacement. Expenses on petrol and diesel can be said to be cost saving, but their real advantage is that their silencer does not emit any kind of smoke but it does not have silencer at all.
People can charge at home at night easily go to work tomorrow and it will be pollution free and it will be quite fast because electric cars deliver power at any rpm and they will be less maintenance then any petrol or diesel cars.
Amir Hussain, CEO of Gogo Motors, a subsidiary of Tesla Motors, has revealed that his company has completed the installation of electric chargers and now Pakistanis can travel on any electric car from Peshawar to Rahim Yar Khan. ۔
Charging stations have been installed in Islamabad, Peshawar, Bhairah, Pindi Bhattian, Abdul Hakim and Multan and a charger will be installed in Faisalabad in the same month.
January 18, 2022 / By Zunair Tahir / News Pakistan
Pak Suzuki is expected to unveil the new Swift next month, after a ten-year hiatus. Suzuki will launch the Swift in Pakistan with a 1250cc K12C twin jet inline-4 engine mated to a 5-speed CVT or manual transmission, according to trustworthy sources. Despite the fact that the Swift, like the rest of the globe, has a 1000cc turbo engine, Pakistan looks to be getting the 1250CC variant.
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Suzuki Price List In Pakistan
Furthermore, the Swift formerly had a displacement of 1395cc, and owners were required to pay a higher token tax, which had an effect on sales to some extent. Because of the decreased tax rate, customers in Pakistan will now benefit from the 1250cc engine displacement.
According to rumours, the hatchback would cost between Rs. 2.7 million and Rs. 2.8 million. Furthermore, most Pakistanis prefer sedans to hatchbacks since sedans offer larger trunk space.
However, in order to demonstrate that the new Swift is a valuable addition to the local market, it must be priced competitively. Pak Suzuki is certain, according to insiders, that the new Swift would be warmly accepted by local car purchasers.
According to Profit, Pak Suzuki spent Rs 4.5 billion on capital expenditures in the first nine months of calendar year 2021, up 5.7 times year on year. Capex (Capital Expenditure) refers to monies used by businesses to update and maintain physical assets such as plants and buildings, as well as to support new initiatives and investments. The greater capex indicates at Pak Suzuki’s plans to replace the 2nd generation Swift in our market with the 4th generation model, as previously stated.
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