Long gone are the days when you can easily buy a luxurious drive within the 3 million price bracket. With the rise in petrol fuel prices, everything from groceries to high-end products is affected by this surge. Since this worldwide inflation impacted all industries, the automobile sector could not escape this economic fuel crunch. The drastic shift in petrol prices forced the automobile sector to revise car prices in Pakistan. All major automobile brands in Pakistan like Honda, Suzuki, Kia, Toyota, MG, DFSK, Haval, etc. incorporated the fuel impact in the newly revised car prices. This is the first time ever in the history of car pricing that automobile manufacturers have updated their car prices multiple times within a year.
Despite the economic downturn, it could not slow down the momentum, and major automobile brands like Kia, Honda, Peugeot, Suzuki, and Master Changan Motors, etc. launched their 2022 awaited line-ups to excite gearheads with new models and trims. As a result car enthusiasts showed great verve and welcomed the new entrants with fresh zeal. Recently, Kia added the most extravagant trim in Kia cars line-up; Kia Carnival Executive. Honda also launched their new Honda HR-V 2022 to their local line-up declining all the rumors of a delayed launch. This is also a clear reflection that nothing could bring down the ardency of car manufacturers. Whether you drive a hatchback or an SUV, you will be needing petrol to move through the city for your mundane tasks. With the rising fuel prices, many people opted for ride-sharing options. Many car businesses wound up their operations and exited the market like Airlift, Carfirst, and Vava Cars.
The upward trend in fuel prices in Pakistan shot the prices of automobiles upward too. With major shifts in fuel prices which rocketed to the highest ever price of Rs. 248.74 per liter in July 2022. The same month marked the lowest car sales as compared to the previous year's sales average. Here is how much petrol prices have increased so far.
The hike in fuel prices made the automobile manufacturers review their pricelists which directly hit the vehicle demand. There are many underlying factors that put pressure on the increased car costs and it is not just confined to the increased fuel price. Factors like increased freight charges, raw material costs, shortage of parts, exchange rates, etc. all play a pivotal role in determining the final cost of a vehicle. It is inevitable that high input costs will not be reflected in the prices of vehicles.
The fuel prices not only reduced the overall vehicle demand but also resulted in high local manufacturing costs since vehicle parts and kits are imported, and the import duties were almost unbearable with the rising fuel prices. Most companies stopped production including Toyota, Suzuki, Honda, Kia, etc. which halted the production supply chain for some time but then resumed back. While some car manufacturers faced a complete blackout in terms of car sales others saw thriving sales like in the case of Suzuki with their top-selling variant Suzuki Alto which broke their sales record for the year 2022.
Since all Kia cars; Kia Sportage, Kia Stonic, Kia Picanto, Kia Sorento, and Kia Carnival have imported parts, the initial ban on imports disrupted Kia Pakistan production and delivery but now all Kia cars are available for booking at authorized Kia Motors Pakistan across the country. You may visit Kia Motors Site for all car maintenance services and can also buy genuine Kia parts for your Kia. The inflation may have impacted car and fuel prices but was not enough to refrain Kia Lucky Motors from building cars that are innovative, luxurious, and at the same befitting your lifestyle.