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Huge taxes imposed on cars!

The price of Fortuner 2.7 G has increased by Rs390,000. The SUV is now available at Rs8.56 million from Rs8.17 million. Fortuner 2.7 V has witnessed a price hike of Rs452,000 and will cost Rs9.94 million against the old price of Rs9.48 million.

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After the much-controversial mini-budget, the government increased taxes on motor vehicles. Through the mini-budget, or the Finance (Supplementary) Act 2022, Sindh Excise and Taxation Department notified new rates of motor vehicle tax.

According to a notification, the provincial government doubled the existing tax on vehicles. The tax on cars over 1000cc increased to Rs. 100,000 from existing Rs. 50,000. The tax on vehicles ranging between 1001cc to 2000cc also increased to Rs. 200,000 compared to the existing Rs. 100,000 tax. Meanwhile those of 2001cc and above will pay Rs. 400,000 in taxes.

Read more: Cabinet approves controversial mini-budget

The mini-budget tabled before the National Assembly proposed several taxation measures on the automobile sector, which increased prices of both imported and locally assembled cars. 

New prices of Toyota, Suzuki & Hyundai

The prices of Corolla Altis Grande X CVT 1.8 and Corolla Altis Grande X CVT 1.8 B have gone up by Rs100,000. The price of Corolla Altis X Automatic 1.6 car rose Rs85,000 to Rs3.53 million. Similarly, Corolla Altis X CVT-i 1.8 has gone up by Rs93,000. The new price of this variant is Rs3.87 million. The manual version of Corolla Altis X 1.6 has seen a price hike of Rs81,000. Its new price is Rs3.38 million.

The price of Fortuner 2.7 G has increased by Rs390,000. The SUV is now available at Rs8.56 million from Rs8.17 million. Fortuner 2.7 V has witnessed a price hike of Rs452,000 and will cost Rs9.94 million against the old price of Rs9.48 million. The price of Fortuner Legender Diesel saw the highest increase of Rs493,000. This variant will now cost Rs10.84 million.

Meanwhile, Suzuki Alto, Suzuki Cultus, and Suzuki Wagon R, all saw a massive price hike. The base variant, Alto VX, will now cost  Rs. 1,306,000 compared to the previous rate of Rs. 1,274,000. It means the car has seen a jump of Rs. 32,000, which is a lot for a small car.

Read more: Major upset as Suzuki raises car prices!

Meanwhile, the mid-variant Alto VXR has seen an increase of Rs. 38,000, taking the price to Rs. 1,546,000 against the previous price of Rs. 1,508,000. And the top of the line variant, Alto VXL, saw an increase of Rs. 43,000 and now it will cost Rs. 1,747,000 against Rs. 1,704,000.

Lastly, the price of the Hyundai Elantra in Pakistan is now available at Rs4,399,000 from the previous rate of Rs. 3,999,000.