Since the beginning of May, there has been a decline in car prices across the market, primarily driven by a significant reduction in the price of the KIA Stonic EX+.
This trend was initiated when Pak Suzuki slashed the price of its popular model, the Swift. Following suit, Changan, a prominent player in the Pakistani automotive market, also decided to lower the prices of both the Comfort and FeatureSense variants of its crossover SUV, the Oshan X7, up to Rs. 400,000.
Specifically, the Comfort variant of the Changan Oshan X7 now retails at Rs. 79,99,000, down from its previous price of Rs. 82,99,000, marking a noteworthy reduction of Rs. 3,00,000.
Similarly, the price of the Oshan X7 FutureSense variant has seen a significant decrease of Rs. 4,00,000, bringing its price down to Rs. 85,49,000 from Rs. 89,49,000.
This recent price reduction strategy by Changan follows a pattern of promotional activities earlier in the year.
In January, the company announced a new year promotion, which was widely publicised on social media platforms.
As part of this promotion, Changan offered a substantial Rs. 300,000 price reduction on the Oshan X7, bringing the price of Comfort down to Rs. 79,99,000 and FutureSense to Rs. 86,49,000.
Originally intended to be valid until January 31, the promotion was later extended until February. However, once the promotion ended in March, the prices reverted to their original level.
This decrease in prices has once again brought the price of Oshan X7 Comfort back to the level of January, while the price of FutureSense has decreased by Rs 100,000 compared to January.
The current trend of price reductions in the automotive sector is expected to have a positive impact on the overall industry.
By making cars more affordable, automakers are likely to stimulate demand and potentially revive car sales, which have been sluggish in recent times.
Moreover, this trend is likely to encourage other players in the market to follow suit and introduce similar price cuts, further benefiting consumers.
