Automakers, beset by exchange rate volatility, increase in taxes and a dwindling supply of parts, have recently given their consumers a big shock by hiking prices.
Some of the companies that have revised their rates are Indus Motor Corporation (IMC), Kia Lucky Motor Corporation (KLMC), Honda Atlas Cars Limited (HACL) and Hyundai Nishat Motors.
Dawn.com looks at three major automakers and the difference in their rates before and after the hikes.
Indus Motor Corporation
According to documents available with Dawn.com, IMC raised prices by Rs760,000 to Rs3.16 million in various models, citing rupee devaluation, increase in taxes and duties including capital value tax (CVT), increasing raw material prices and transportation cost.
The new price of Corolla 1.6 MT, AT and SE models are Rs4.899m, Rs5.139m and Rs5.639m while 1.8 CVT, CVTSR and CVTSR Black models will carry a new price of Rs6.679m, Rs6.149m and Rs6.189m, respectively.
The new prices of Yaris 1.3MT, CVT, HMT and HCVT are Rs3.799m, Rs4.039m, Rs3.999m and Rs4.209m. Yaris 1.5MT and 1.5CVT will be sold at Rs4.309m and Rs4.569m. Revo GMT, GAT, VAT and VAT Rocco will be sold at Rs9.819m, Rs10.299m Rs11.349m and Rs11.999m.
The new rates of Fortuner LO Petrol, High Petrol, Diesel and Diesel Legender are Rs12.489m, Rs14.279m, Rs15.069m and Rs15.839m, respectively.
IMC informed its dealers that these prices are purely indicative and provisional and subject to change and shall not be construed as final.
The price at the time of delivery shall continue to be applicable.
Kia Lucky Motor Corporation
KLMC hiked the prices of different models by 500,000 to 1.1m.
The new prices of Picanto MT and AT are 3.10m and 3.20m while Sportage Alpha, FWD and AWD are 6.25m, 6.75m, and 7.25m.
Meanwhile, Sorento 2.4L FWD and AWD cost 7.80m and 8.50m while the 3.5L also costs 8.50m.
Honda Atlas Cars Ltd
Auto sources said HACL had informed its dealers regarding a possible price rise of Rs785,000 to Rs1.45m in Honda City, Civic and BR-V effective July 30 (today).
According to documents available with Dawn.com, the indicative prices of City MT 1.2L, CVT 1.2L and CVT 1.5L are 4.049m, 4.199m and 4.439m.
The BR-V is priced at 5.299m while the Civic 1.5L is 7.099m.