Like the preceding years, 2022 also saw local assemblers giving a massive push to the prices of their products citing depreciating currency value, and rising shipping & raw material costs as the prime reason behind the hikes.
But the increase made between January and December 2022 is more shocking than you might imagine. AutoJournal came up with the below eye-opening calculations which not only show the net increase in terms of prices, but also the average increase in percentage based on the number of locally assembled vehicles & their variants in assemblers’ lineup.
Related: December 2017 vs December 2022- The Nightmare Continues
Indus Motor Company (IMC) which sells 4 locally assembled Toyota models tops the list with an average increase of Rs 2,027,580 during the calendar year 2022, registering an average 37.7% increase across its lineup. Surprisingly Proton which deals in just 2 locally assembled models, was in 2nd place with an average increase of 37.4% or Rs 1,315,000 across its lineup.
Changan is in the 3rd place to make astonishingly high price hikes with an average increase of 32.25% or Rs 936,000 across its lineup of 4 locally assembled vehicles. Pak Suzuki with an average increase of 29.59% (Rs 573,730) is at the 4th place followed closely by Honda Atlas with an increase of 29.56% (Rs 1,125,330).
Related: Assemblers Selling the Oldest Lineup in Pakistan
United and Regal Automobiles were in 6th and 7th place registering an average increase of 29.32% and 24.67% respectively. Kia stands in 8th place with an average increase of Rs 23.14%, followed by Chery with a 21.93% increase.
Hyundai made a 20.53% increase in prices during the year 2022 whereas Peugeot which is struggling to leave the showroom floors saw a minuscule increase of 3.57% and remains seated at the bottom of the table.
|The average increase in Price|
A 3d animation professional with over 20 years of industry experience having served in leading organizations & production facilities of Pakistan, an avid car enthusiast and petrolhead with an affection to deliver writings to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com