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The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

July 7, 2021 / By Zunair Tahir / Automotive News

Auto Policy has finally been revealed by the federal government. Khusro Bakhtiar, the Federal Minister for Industries and Production, spoke during a news conference on the new strategy.

We’ve been hearing a lot of stories and speculations concerning automobile price increases in Pakistan. Despite repeated warnings, the situation for automobile users in the country remained uncertain. The wait, however, is now over. Pakistan’s new Auto Policy 2021-2026 has been announced by the government. According to the information given, there is undoubtedly good news for automobile aficionados. Furthermore, the new Auto Policy is good news for automobile buyers in the lower middle and middle classes. Let’s go straight into the specifics!

Impact On Cars

Vehicle Prices Have Dropped

The long-awaited decision has finally arrived. Vehicle costs have been decreased as a result of the new Auto Policy. Vehicles with engines up to 850cc would have their costs reduced to as low as PKR 105,000 under the new policy. When it comes to 1000cc vehicles, costs might drop as low as PKR 146,000. Furthermore, if we look at the Toyota Yaris and Honda City in particular, the costs will drop by up to PKR 125,000.

Here is the Auto Policy for the Years 2021-2026.

In the following 1-2 days, new car prices will be applied.
To put an end to the “ON Money” mentality, the buyer must register the vehicle in his or her own name.
3,75,000 new employment will be created in the auto industry.
The auto sector has a production capacity of 4,15,000 vehicles per year. Pakistan manufactured 1,64,000 cars last year.
Cars with engines up to 850cc will have their prices reduced by up to Rs. 105,000.
1000cc rates would be reduced by up to Rs140,000.
For one year, the import tariff on electric vehicles (EVs) would be cut from 25% to 10%.
If the automobile is delayed for more than 60 days (2 months), the firm will be charged KIBOR + 3%.
The automobile industry is taxed to the tune of Rs350 billion.
The government is working on a policy for auto development and export. Not only will the policy be focused on the domestic market.

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The New 6th Gen Honda City Official Launch Date is Here

July 1, 2021 / By Zunair Tahir / Automotive News

In July 2021, the 6th generation Honda City will make its debut in Pakistan. However, Honda Atlas has opted to open up the bookings for the car a month and a half in advance, without even completely showing the vehicle.

This City will succeed the 5th Generation predecessor, which has been marketed in Pakistan for more than a decade, and will compete directly with the Toyota Yaris and Changan Alsvin.

Performance

In Pakistan, it will be offered with two engine choices. A 1.2-liter naturally-aspirated 4-cylinder petrol engine produces 89 horsepower and 114 Nm of torque, while a 1.5-liter naturally-aspirated 4-cylinder petrol engine produces 118 horsepower and 145 Nm of torque. The engine will be paired to either a manual or a CVT transmission, depending on the model.

HONDA CAR PRICE IN PAKISTAN

The new City, on the other hand, will face stiff competition from the Yaris and the Alsvin, both of which are newer, but similarly equipped vehicles. In addition, while the Yaris is pricey, the Alsvin is a less costly option to the City. In addition, the Proton Saga is a smaller, less expensive, and well-equipped alternative that, although not a direct rival of the new City, poses a real threat.

Lets Wait how the new City hold its Value against other Car that are available in the Country right now.

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The Good News is that after 850cc, 1000cc cars are becoming more affordable as well.

June 27, 2021 / By Zunair Tahir / Automotive News

The federal government made vehicles with engines up to 850cc cheaper earlier this month by eliminating the Federal Excise Duty (FED) and lowering the Sales Tax to 12.5 percent from 17 percent. Everyone was ecstatic when they heard the news. Despite this, many people preferred to hear the phrase 1000cc instead than 850cc.

So, what’s this? The government has complied with our request. Shaukat Tarin, the Finance Minister, has announced the continuation of tax exemption for automobiles up to 1000cc, making all domestically built 1000cc cars cheaper.

Also Read

Car Price List in Pakistan

Below Down is the List of the Cars that is getting cheaper and we also have to seen its impact of the local Market.

660cc – 800cc Cars

Suzuki Ravi
Suzuki Bolan
Prince Pearl
United Bravo
Suzuki Alto

1000cc Cars

Suzuki Cultus
Suzuki Wagon R
kia Pianto
United Alpha

What Will be the impact these Cars are Getting Cheaper

Because the middle class can only afford automobiles up to 1000cc, this tax relief will undoubtedly have a big influence on the local automotive market. The government has lowered automobile costs in a budget for the first time in Pakistan’s history.

Consumer purchasing power will rise as a result of the effort, as will automobile sales in the country. The government, on the other hand, has not proposed any tax relief for imported automobiles, indicating that it is focused on the domestic auto sector and encouraging people to buy local vehicles.

What are your thoughts on this news? On a scale of one to ten, how pleased are you with this big tax cut? Let us know what you think in the comments area.

When Will Automobiles Become More Affordable to Consumers?

Okay, so the government has enacted the Fiscal Budget 2021-22, which includes lower taxes on automobiles with engines under 1000cc. But the real question is when prices will start to fall. And the response is July 1st, 2021.

The budget has been considered and approved by the government in the National Assembly. It will be deployed in the beginning of next month. From July 1st onwards, the revised pricing will be in effect.

In the meanwhile, customers who get automobiles this month will be charged the existing price. If the invoice for the car has been issued, the buyer must pay the current price. There’s no getting around it.

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The number of vehicles imported by automakers has increased by 83%

June 23, 2021 / By Zunair Tahir / Automotive News

According to the study, auto-industry imports totaled $2.624 billion in the first eleven months of FY 2020-21, compared to $1.431 billion in the first eleven months of FY 2019-20.

The value of CKD/SKD car imports in this year was $2.180 billion, up 86.72 percent from the previous year. CBU imports grew by 81.29 percent, with a value of $336.941 million compared to $185.861 million previous year.

CAR PRICE IN PAKISTAN

According to industry observers, the recent flood of new cars may have caused such a huge spike in the value and volume of vehicle imports. In the previous year, almost two dozen new cars were released to the Pakistani market, the majority of which are SUVs, but virtually all of them cost more than PKR. 4 million.

The government is turning its attention to encouraging the sale and purchase of smaller, more environmentally friendly automobiles in order to decrease the high import bill.

The All Pakistan Motor Dealers Association (APMDA), on the other hand, is advocating for a change of the import rules to encourage car imports. H.M. Shehzad, the Chairman of the APMDA, wrote to the Ministry of Finance (MOF) around two weeks ago to suggest modifications to the new car policy that would take effect after the presentation of the 2021-22 budget.

He went on to say that the newcomers are also raising costs, delaying car deliveries, and “fleecing the consumers in the form of Own-Money” for early deliveries of their automobiles.

Shehzad proposed that the government encourage the import of automobiles into Pakistan to promote healthy competition in the market and to raise the quality standards of current automakers.

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Bookings for the Haval H6 and Jolion have once again been closed in Pakistan.

June 19, 2021 / By Zunair Tahir / News Pakistan

The bookings for Haval H6 and Jolion were stopped again just three days after they reopened owing to a “overwhelming reaction,” according to the firm.

2024 Haval Price List In Pakistan

The Haval duo’s bookings were restarted earlier last week with a Rs 200,000 rise in retail pricing, bringing the H6 to PKR 64.95 lakh and the Jolion to PKR 57.25 lac. According to reports, the firm is hesitant to accept a significant number of reservations owing to stock shortages, particularly due to worldwide supply chain difficulties.

It’s worth noting that Haval SUVs will be accessible as CBUs for the time being, as local assembly at the factory has yet to begin..

In an earlier statement, the business stated that it did not want to harm its image with consumers by continuing to accept bookings despite supply chain issues, which might cause clients to wait months for their vehicles to arrive. Haval has taken the same move once again, which is expected to strengthen its reputation among consumers in Pakistan as a trustworthy and transparent carmaker.

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Ghandhara Nissan & Cherry To Launch 3 EVs In Pakistan

Ghandhara Nissan partnered with a Chinese firm within nearly three years to carry out electric vehicles from their latest planned factory in Pakistan, officials of the company said on Wednesday.

In line with Pakistan’s plan to enforce the electric vehicle program, the organization will launch its electric vehicle lineup in the country over the next two to three years, Secretary Fareena Mazhar said during a meeting with the Board of Investment (BoI).

Muazzam Pervaiz, chief executive officer of Ghandhara Nissan, visited the BoI along with his team to propose a brownfield investment business plan of Rs2.4 billion.

Together with the China-based Chery Company, Ghandhara Nissan aims to introduce the new passenger cars in Pakistan. The line-up contains numerous types of passenger cars, ranging from hatchbacks and sedans, crossovers to hybrid vehicles and sports utility vehicles.

During the first six months of the current fiscal year, car sales rose 18 percent to 78,910 units, according to industry reports. In the corresponding timeframe of the last fiscal year, Suzuki, Indus Motors, Honda and Hyundai reported sales of 67,019 units, Topline Securities said.In December, sales of passenger cars rose 12.6 percent to 11,247 units from 9,987 units during the same month a year ago. In comparison, car sales were smaller, compared with 11,914 units in November. An rise in revenue was also seen for jeeps, cars, tractors, three-wheelers and motorcycles.

Chery Group is the Chinese car industry’s leading brand. With more than 11,000 patents and 3,200 committed research and development employees, the company set up a full research and development infrastructure. With 23 specialist modules covering vehicle and component durability, handling stability, NVH, protection and environmental adaptability, emissions, components and other properties of research production and verification capabilities, Chery has more than 2,600 pilot projects.

The proposed product line that will have value for money and deliver top of the line safety features to customers was appreciated by Mazhar of BoI. In order to maintain a friendly market climate, she told the team about numerous steps taken by the government, including incentives proposed in the forthcoming electric vehicle program.

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cars

The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

Impact On Cars

Vehicle Prices Have Dropped

Here is the Auto Policy for the Years 2021-2026.

READ MORE NEWS…

The New 6th Gen Honda City Official Launch Date is Here

The New 6th Gen Honda City Official Launch Date is Here

Performance

ALSO READ

HONDA CAR PRICE IN PAKISTAN

READ MORE NEWS…

The Good News is that after 850cc, 1000cc cars are becoming more affordable as well.

The Good News is that after 850cc, 1000cc cars are becoming more affordable as well.

Also Read

When Will Automobiles Become More Affordable to Consumers?

READ MORE NEWS…

The number of vehicles imported by automakers has increased by 83%

The number of vehicles imported by automakers has increased by 83%

ALSO READ

CAR PRICE IN PAKISTAN

READ MORE NEWS…

Bookings for the Haval H6 and Jolion have once again been closed in Pakistan.

Bookings for the Haval H6 and Jolion have once again been closed in Pakistan.

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2024 Haval Price List In Pakistan

READ MORE NEWS…

Ghandhara Nissan & Cherry To Launch 3 EVs In Pakistan

Ghandhara Nissan & Cherry To Launch 3 EVs In Pakistan

READ MORE NEWS…

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