We informed you yesterday about the Economic Coordination Committee (ECC) accepting the proposal to raise the General Sales Tax (GST) from 18% to 25% on cars above Rs. 40 lacs with engine sizes lower than 1400cc. This policy change is expected to impact cars from manufacturers such as Pak Suzuki, Toyota, Honda, and Proton. Only certain variants of these companies’ cars are anticipated to have revised prices. It is important to note that the new prices are not confirmed because no official notification or SRO has been issued. The situation will become clearer after an SRO from FBR.
Expected Revised Car Prices
Following the application of 25% GST, the prices of these cars are projected to increase.
- The Suzuki Cultus VXL variant with 1,000 cc engine is expected to go up by Rs. 242,000 to reach Rs. 4,326,000 from the current 4,084,000.
- The price of Suzuki Cultus AGS is anticipated to rise to Rs. 4,625,000 from Rs. 4,366,000, reflecting an increase of Rs. 259,000.
- Suzuki Swift GL Manual is expected to witness a price increase of Rs. 257,000, taking it to Rs. 4,593,000 from Rs. 4,336,000.
- The Suzuki Swift GL CVT is projected to cost Rs. 4,930,000 instead of Rs. 4,654,000, an increase of Rs. 276,000.
- The Suzuki Swift GLX CVT is expected to experience a price hike of Rs. 299,000, with the new price being Rs. 5,339,000 instead of Rs. 5,040,000.
- Toyota’s Yaris GLI MT 1.3 is likely to become Rs. 4,660,000 after an increase of Rs. 261,000 from the current price of Rs. 4,399,000.
These price estimates are contingent on an official notification from the government; the car companies will subsequently announce the official prices.
