Overview
Regal Automobile Industries Limited announced a new price jump for the Glory 580 Pro under the SRO 297(1)/2023. The Glory 580pro included in the cars consider for 25% General Sales Tax. The company has announced new prices will follow from March 14, 2023.
Previously, the Glory 580 Pro price increased on February 20, 2023by Rs. 300,000 after the government changed GST from 17% to 18% and bring it price to Rs. 6,500,000
Glory 580 Pro New Price
After the 25% GST Glory 580 Pro price increased from Rs. 6,500,000 to Rs. 6,990,000, observing a change of Rs. 4,900,000.
Terms and Conditions
Regal Automobile has also shared the terms and conditions regarding the car purchase and new prices.
- The revised price of the vehicle is an ex-factory price including taxes and dealer’s commission.
- The already booked vehicles that pay the full price till March 13, 2020, will be considered for the old price.
- Any change in Pakistan rupee value against USD, government levies tariff structure, fiscal policies, import policies, or etc… the customer will restrict to pay the change price.
- The mentioned prices are temporary, and the company has reserved the right to change prices without any prior notice, and the price prevailing shall apply at the delivery time.
- Customers who paid the full amount at the time of booking will not consider for this new price.
Conclusion
Pakistan’s automotive industry faces uncertainties from the government and international factors are also effect. The unfavorable government taxes on cars and not approving LCs for CKD kits import are major factors to consider for recording low sales records. The current circumstances forced automakers to change prices and make the cost of production possible with new prices. Devaluation of the rupee value is a major factor impacting of cost of production.
