No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
No Result
View All Result
No Result
View All Result

Car manufacturers jack up car prices amidst high inflation

News Desk by News Desk
November 12, 2021
in Business, National
Reading Time: 1 min read
Cars manufacturers
Share on FacebookShare on Twitter

KARACHI: Lo and behold, prices of cars have been increased by the manufacturers, with the much hyped decrease lasting for about four months. The car manufacturers have cited the higher freight rates and rupee’s continued freefall in the interbank market as the primary reasons.

The prices of the locally manufactured cars and SUVs had been decreased by up to Rs. 4 lacs by various car manufacturers in July this year. However, the snowball effect of the increase in oil prices globally, can be felt in Pakistan as well where prices of basic commodities and luxuries have increased manifold in the last few weeks.

Lucky Motor Corporation Limited have hiked the prices of the local and imported vehicles by up to Rs. 5 lacs. Toyota Motors, on the other hand, have increased the prices of their products by approximately Rs. 6 lacs. Pak Suzuki have also inflated the prices of their products by Rs. 3 lacs.

The prices of 660cc cars were slashed earlier this year by the federal government amidst much fanfare. The government had announced then that it was doing so to facilitate the middle class so that it [middle class] could afford a car too. In a bid to reduce the imports, the government had also decided to stop the car financing on imported vehicles.

It had also decided to reduce the financing tenure from seven years, capping it to a maximum of five years.

Related

News Desk

News Desk

Related Posts

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points
Business

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

January 26, 2023
Pakistan seeks US help for revival of IMF programme
Featured

Pakistan seeks US help for revival of IMF programme

January 26, 2023
PSX in boorish trend for second consecutive day; benchmark KSE-100 index lost over 700 points
Business

KSE-100 index gains over 850 points as IMF ninth review inches closer

January 25, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

PCB to create history by naming enclosures of Bugti cricket stadium after former women's cricketers of Pakistan cricket team

PCB to create history by naming enclosures of Bugti cricket stadium after former women’s cricketers of Pakistan cricket team

by admin
January 26, 2023

Lahore: For the first time in the history of cricket any enclosure of a cricket stadium will be named after...

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

by Zain Aijaz
January 26, 2023

The devaluation of Pakistani currency (Rupee Devaluation) has created a positive sentiment in the market at the Pakistan Stock Exchange...

ICC names Babar Azam ODI player of the year for consecutive second year

ICC names Babar Azam ODI player of the year for consecutive second year

by Zain Aijaz
January 26, 2023

The captain of the national cricket team, Babar Azam, has been declared the ICC ODI Player of the Year for...

Pakistan seeks US help for revival of IMF programme

Pakistan seeks US help for revival of IMF programme

by Zain Aijaz
January 26, 2023

Islamabad: On Wednesday, Pakistan reached out to the delegation of the United States (US) in an attempt to seek their...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8

Copyright © 2022 The Upcut. All rights reserved.