Due to the depreciation of rupee against the dollar, it is highly likely that the car prices will increase in Pakistan. Recently dollar price reached an all-time high at Rs 134. This will lead to further issues including the increase in prices of the cars.
From the start of 2018 at several times the local automakers in Pakistan have increased vehicle prices, due to rupee depreciation. Now when the market closed on Monday, the dollar stood at Rs 124.25 but on Tuesday the dollar surged by Rs9.75. Due to the depreciation of rupee by Rs 9.75, there is quite an uncertainty in the market. Thus it is highly likely that car prices will increase soon.
It is pertinent to mention here that in the last 10 months rupee devalued against the dollar by 26.67%.
JS Global Research analyst Ahmed Lakhani said that the local automakers in Pakistan told him that if dollar value gets past PKR 130 mark, the automakers will surge the car prices. Now let us see if the prices are raised or not.
Recently the leading bike maker of Pakistan Atlas Honda did increase the bike prices by PKR 4000.