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Saturday, May 18, 2024

Automakers pass on 1 % GST hike to consumers

Automakers have passed on the impact of 1% hike in GST to the consumers amidst rising costs of raw materials and continuous depreciation of the local currency.

Indus Motor Company (IMC) had already raised prices thrice in one month. In the fourth price hike, the company shared a new price list.

 IMC updated rates

The model Yaris 1.3 MT has a new price of Rs4.316 million, variant 1.3 CVT now costs Rs4.588 million, and 1.3 H MT is now available at Rs4.558 million. Likewise, models 1.3 H CVT, 1.5 MT, and 1.5 CVT are available at Rs4.790 million, Rs4.911 million, and Rs5.213 million respectively. 

In addition to this, all variants of Corolla have also experienced a major price hike. The model 1.6MT has a new price of Rs 5.576 million compared to its previous price of Rs 5.529 million. Similarly, the model 1.6 CVT and 1.6 CVT Up spec are now available at Rs6.111 million and Rs6.716 million against Rs6.059 million and Rs6.659 million. Moreover, 1.8 CVT, 1.8 CVT SR, and 1.8 CVT SR BLK have the price of Rs 6.423 million, Rs 6.998 million, and Rs 7.039 million respectively.  

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Furthermore, the new rates of Hilux STD, STD Up spec, and Deckless are Rs6.787 million, Rs6.917 million, and Rs6.282 million compared to Rs6.729 million, Rs6.759 million, and Rs6.229 million. Hilux 4×4 and ZTR are now available at Rs8.985 million and Rs6.504 million versus Rs8.909 million and Rs6.449 million.

The model Revo STD has a new price tag of Rs10.316 million. The variants G MT, G AT, V AT, and V AT ROCCO now cost Rs11.184 million, Rs11.728 million, Rs12.969 million, and Rs13.675 million as compared to Rs11.089 million, Rs11.629 million, Rs 12.859 million and Rs 13.559 million.

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Moving on, the rates of Fortuner LO Petrol, High Petrol, Diesel, and Diesel Legender have also been jacked up to Rs14.230 million, Rs16.297 million, Rs17.175 million, and Rs18.112 million.

Additionally, Pak Suzuki Motor Company Ltd (PSMCL) has raised car prices by Rs 110,000-263,000.

PSMCL revised rates 

The models Alto VX, VXR, VXR AGS, and AGS are now available at Rs2.144 million, Rs2.487 million, Rs2.665 million, and Rs2.795 million respectively. Similarly, the variant Wagon R has also experienced a price hike of Rs185,000-215,000 and the prices of Cultus have raised by Rs214,000-251,000. Likewise, the prices of Swift models went up by Rs245,000-263,000.

Moreover, Lucky Motor Corporation (LMC) has also revised its car prices.

LMC’s new price tags 

The model Picanto MT and AT are now available at Rs3.228 million and Rs3.430 million against Rs3.200 million and Rs3.400 million. Stonic EX and EX plus now carry price tags of Rs4.842 million and Rs5.295 million compared to Rs4.800 million and Rs5.250 million. 

Moving forward, the new prices of Sportage Alph, FWD, and AWD have surged to Rs 6.556 million, Rs 7.111 million, and Rs 7.716 million. The revised rate of Sorento 2.4L FWD is Rs 8.472 million against Rs 8.400 million while 2.4L AWD and 3.5L FWD models now hold a new price of Rs 9.178 million each.