Hilux Revo, D-Max Prices To Increase Under New Budget
June 13, 2020
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According
to the new budget 2020-2021 it is noticed that the prices of Hilux Revo and
Suzuki D-Max may increase. The new vehicle policy consists of extra tax implied
on the double cabins in order to generate some revenue and increase tax
collection. The government has imposed 7.5% FED on locally manufactured double
cabin cars, while 25% FED has been imposed on imported ones.
During
the budget speech the federal minister for industries and production Hammad
Azhar said that these vehicles are used mainly for transport purpose and for
carrying goods but in Pakistan some people use it as a symbol of pride and
status. Pakistan Automotive Manufacturers Association (PAMA) said that only 3
Isuzu D-Max vehicles were sold in May 2020. 70 in May 2019. This all happened
due to the pandemic COVID-19. It is noticed that every business and industry is
facing short fall in sales and revenue because of this pandemic.
Hilux
sales are also reduced this month as compared to the previous month. 72 units
are sold this month while 468 were sold in the same last month. Hilux has seen
37% drop in sales to 3,310 units in the current fiscal year from 5,323 vehicles
during the same duration last year. On the other hand, Isuzu D-Max has seen 30%
sales growth to 449 units in FY 2020 from 343 vehicles in FY 2019. While this year ISUZU has launched facelift
version which seems to be sold more. A lot new features are also introduced in
the new double cabin. Due to which smooth drive and road grip is noticed in the
new double cabin. Meanwhile, Government has removed Ambat of Advance Tax (AAT)
on vehicles with engine power up to 2000cc, including motorcycles and motor
rickshaws.
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