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.
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
- 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.