KARACHI, Feb 1: Two leading Japanese car makers have increased prices of various models by Rs5,000 to Rs20,000, respectively, citing reason of rupee depreciation against the yen, which they claim has pushed up cost of imported kits.
The new price of various models of Pak Suzuki Motor Company Limited (PSMCL) became effective from Friday while the rate of Indus Motors Limited (IMC), maker of Toyota Corolla and Daihatsu Cuore, would be effective from February 7 on higher engine capacity cars. The price of lower engine capacity cars had come into effect from February 1.
Two other car makers Honda Atlas and Dewan Farooqui Motors have not yet announced the rates.
All the manufacturers had increased the prices in September 2007 after imposition of one per cent federal excise duty and withholding tax in the 2007-2008 budget.
According to new rates Toyota Corolla XLI 1.3L EFI is now priced at Rs930,000 as compared to Rs915,000 in September, while GLI 1.3L EFI will now be available at Rs1,020,000 as compared with Rs1,050,000.
Suzuki Mehran VX 800 cc will now be sold at Rs 335,000 as compared with 325,000 earlier, while Mehran VX CNG carries the new price tag of Rs372,000 as against September’s rate of Rs361,000.
Alto VXR CNG is now priced at Rs521,000 as compared to Rs515,000, while Cultus VXR CNG will be sold at Rs647,000 as against Rs615,000.
The prices of Ravi Pickup CNG and Bolan Van CNG have surged to Rs357,000 and Rs428,000 as compared with Rs355,000 and Rs417,000, respectively.
Official spokesman of PSMCL Shafiq Ahmed Shaikh said that the company was still bearing a major portion of currency impact and it had passed very little burden on the consumers. He said that the rupee had lost its value against the yen since November 2007.
Meanwhile, Chairman All Karachi Motor Dealers Association (AKMDA) H. M. Shahzad has urged the Caretaker Prime Minister Mohammadmian Soomro to initiate an enquiry against the local assemblers for unjustified increase in prices since the demand of cars has been slow since November.
He said the caretaker government should check the prices of completely knocked down (CKD) kits lying in stocks of the assemblers, which had been imported earlier.
He said that there had been a trend of rising prices of every item, especially the foodstuff by the vested interests in the markets for the last three months, the assemblers had definitely followed the suit with these market forces.
