No relief in car prices despite a visible decrease in dollar rate
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The automobile manufacturing companies have failed to decrease the prices of the cars despite a visible decrease in dollar rate in the last few months. It has been a practice in Pakistan that prices of goods go up with the rise in dollar price but on contrary, the prices are not decreased with its slash. The government institutions seem unable to monitor the prices and make the manufacturer cut the prices down.
According to a report of 24 News HD TV channel, the automobile companies increased the prices of the cars from 17 per cent up to 45 per cent since June 2019. The dollar price went up to Rs168 however it has come down to Rs153 recently which is almost equal to June 2019 price. However, car buys got no relief in prices with the decrease of the dollar rates.
The automobile companies increased the prices from rupees four hundred thousand up to Rs1.5 million. Honda increased the prices from rupees six hundred thousand up to nine hundred thousand while different products of Toyota’s prices went up from rupees five hundred up to Rs1.5 million. Suzuki also increased the prices of the different vehicle from rupees three hundred fifty thousand up to Rs1.4 million