Sazgar Engineering Works Limited has increased the price of its Haval Jolion compact crossover SUV by Rs295,000, the company's second rate-hike within three months of introducing the vehicle in Pakistan.

The first increase was announced in June 2021 after which the price of Haval Jolion increased from Rs5.52 million to Rs5.72 million.

The latest price-increase takes the ex-factory rate of the vehicle to Rs6.02 million. When clubbed with freight and insurance charges, the price soars up to Rs6.057 million.

Sazgar notified the new prices to all its registered dealerships through a notification on Monday, September 6. It said that the inevitable increase is due to the unfavourable fluctuation in exchange rates. The rupee has lost around 10% since May this year as a widening current account and trade deficit take their toll on the currency.

The Ministry of Industries and Production had recently said that automakers will have to justify car prices going forward, or else the government will fix car prices to curb profiteering.