Indus Motor Company (IMC) has increased prices of its different variants from Rs 50,000 to Rs 60,000 with immediate effect to offset dollar-rupee increasing difference. Likewise, two other local car assemblers, ie, Honda Atlas and Suzuki Motors Pakistan are also all set to increase prices within days as according to one of the assemblers, the impact of exchange rate parity is around 8-9 percent.
M/s IMC has increased the price of XLI from Rs 1,759,000 to Rs 1,819,000 (Rs 60,000), GLI from Rs 1,889,000 to Rs 1,949,000 (Rs 60,000), GLI AT from Rs 1,964,000 to Rs 2,024,000 (Rs 60,000) and 1.6 Altis from Rs 2,149,000 to Rs 2,199,000 (Rs 50,000).
When contacted, Chief Executive Office (CEO) IMC Ali Asghar Jamali confirmed that prices of different variants have been increased from 2.5 percent to 3.5 per cent, adding that increase is purely to offset exchange rate difference.
A senior representative of M/s Honda Atlas, when contacted, said that the company did not increase prices in recent past despite increase in duties but the impact of recent rupee depreciation, which is around 8-9 per cent, will not be absorbed. However, the percentage of increase in prices will be finalised within a few days. M/s Suzuki has also planned to pass on the impact of exchange rate to the consumers but no representative of the company was available for comments.
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