Overview
We are expecting that the New Auto Policy (2021-2026) will be announced as something good for automakers and reduced the FED Tac on cars. The reduced f FED Tax on cars can be a chance to reduce the prices of the vehicle but still, it’s not confirmed yet. Today different social media channels spread ake information about the price reduction in Honda car, that is denied by the Honda Atlas company. According to the fake social media Honda, Civic Turbo RS price was reduced by Rs1,40,000, Honda Civic 1.8LVT SR CVT priced reduced by Rs120,000, and Civic 1.8L VTI CVT price decreased by Rs110,000. Moreover, in the notification, the price of the Honda BR-V S CVT price was reduced by Rs100,000. Indeed it was great news the price of the Honda Civic and BR-V decreased but it’s fake.
Also Checkout: Expected Reduced In Cars Prices of 1000cc in Pakistan
Honda Atlas Report
Honda Atlas denied the fake report that reduced car prices. The company has notified that “ We have not announced such price reduction”. the social media news is fake, if the company reduced prices, we will mention it on our official social media channels and website as well.
After the notification of Honda Atlas, it’s confirmed that prices are still the same and never reduced. However, we can expect that maybe the prices will be reduced after the announcement of the Auto Policy (2021-2026). According to the report in the Auto Policy (2021-2026), the FED Tac will be reduced by 2.5% on all cars. The tax reduction is a possibility of reduction in car prices.
Also Checkout: DFSK to Present First 7-Seater SUV in Pakistan Soon
Pakistan Automotive Industry Overview
From the last couple of years, the prices of cars in Pakistan increasing continuously, that leave the bad impact on sale. Most people reject buying cars due to the hefty price tags. All this happened just because of high custom duty on automotive parts and FED Tax on local manufacturing cars. The expected reduction in FED would be great for auto enthusiasts to reduced car prices and increase sales. Automakers many times request the government to provide relief in tax but it’s never happened in the auto policy (2016-2021). Increasing the sale of vehicles is a need of our auto industry to move forward and stable sale volume.
Also Checkout: Hyundai Elantra Soon to Enter in Pakistan
Conclusion
The notification of reduced car price gives a little bit of happiness but it fakes we cant look forward. However, we expect the overall prices reduction in 1000cc cars, 1001 to 2000cc cars, and 2001 to 3000cc vehicles after the Auto Policy announcement. Most probably the Auto Policy will be announced today or the next week.
Stay tuned with Autodeals.pk for the latest updates.
