Automobile prices rise as manufacturers pass on FED to consumers

KARACHI: Automobile manufacturers have increased prices by up to Rs493,000 after an increase in the Federal Excise Duty (FED) as per the Finance (Supplementary) Bill 2021.

Automobile companies which have increased prices include Indus Motor Company (IMC), Honda Atlas Cars Ltd (HACL) and Pak Suzuki Motor Company Ltd (PSMCL).

The prices of different models of Toyota Yaris have increased in the range of Rs63,000-Rs76,000. The revised rates of Yaris 1.3GLI MT, GLI CVT, ATIV MT, ATIV CVT, 1.5 ATIV XMT and 1.5 ATV X CVT are Rs2.612 million, Rs2.817 million, Rs2.745 million, Rs2.919 million, Rs2.97 million and Rs3.175 million respectively.

Similarly, prices for different Toyota Corolla variants have increased by Rs81,000-Rs100,000. The revised rates of Corolla 1.6MT, 1.6AT, 1.6AT SE, 1.8CVT, 1.8 Grande CVT and 1.8 Grande CVT (black interior) are Rs3.38 million, Rs3.534 million, Rs3.892 million, Rs3.872 million, Rs4.179 million and Rs4.199 million respectively.

Moreover, HACL has increased the price of Honda Civic 1.5L Turbo, 1.8L VTI CVT SR and 1.8L VTI CVT by Rs100,000-126,000 to Rs5.175 million, Rs4.366 million and Rs4.079 million respectively.

Meanwhile, prices for Honda City 1.5L CVT, 1.5L ASP MT and 1.5L ASP CVT stood at Rs3.146 million, Rs3.279 million and Rs3.454 million.

However, HACL has not increased the price of Honda City 1.2L MT and CVT models since there is no FED on 1,200 CC vehicles.

Moreover, in a similar move, PSMCL has also pushed up prices of Suzuki automobiles by Rs29,000-Rs150,000.