Pak Suzuki also slashed the price of its Swift GLX CVT by Rs 710,000 in response to the Stonic’s move.
ISLAMABAD: Pakistan’s auto market continues to suffer with rising prices and low sales, but the fifth most populous country has seen a downward trend in prices over the past few months, with majors like Suzuki, Toyota, Honda and Kia Reduced the rates of some units.
Toyota, Honda, Kia and Suzuki cut prices by up to 25 percent. The biggest price cut was announced by Lucky Motors, which slashed the price of the KIA Stonic by Rs 15 lakh.
Suzuki then jumped on the bandwagon by slashing the price of its Swift GLX CVT variant by 13 percent. Toyota Yaris and Honda City prices have been slashed in recent months.
In addition to lower sales, several other factors are also linked to lower prices, including sales tax.
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Massive Drop in Car Prices in Pakistan 2024
| Car Models | Old Price | New Price | Price reduction |
| KIA Stonic | Rs6.4 million | Rs4.7 million | Rs 1,500,000 |
| Suzuki Swift | Rs5.4 million | Rs 4.7 million | Rs 710,000 |
| Toyota Yaris | Rs4.89 million | Rs 4.76 million | Rs 133,000 |
| Honda City | Rs4.8 million | Rs 4.68 million | Rs 140,000 |
| Cherry Tiggo 8 Pro | Rs10.3 million | Rs 9.5 million | Rs 850,000 |
| Peugeot 2008 | Rs7.7 million | Rs 7.25 million | Rs 450,000 |
Toyota Yaris
Toyota also joined the price cut trend by slashing the prices of various Yaris variants on March 14, 2024. Despite the Rs 73000-133000 drop, Toyota’s strong resale value and easy access to spare parts makes the Yaris a viable option.
Honda City
Honda followed suit by slashing its city price by PKR 140K on March 15, 2024. However, at around Rs 4.8 million, the City is expensive.
The Kia Stonic
KIA has announced a major price cut for the Stonmic with a new price tag of Rs 4.7 million. Earlier this car was sold for Rs 6.4 million.
Suzuki Swift
Pak Suzuki also slashed the price of its Swift GLX CVT by Rs 710,000 in response to the Stonic’s move.
Cherry Tigo 8 Pro
Cherry announced a significant price cut of Tiggo 8 Pro on April 16, 2024 by Rs 0.85 million.
Peugeot 2008
Peugeot also cut its 2008 price by Rs 450,000, following a previous cut of Rs 100,000 in March. The move reflects a growing trend in the market where automakers are cutting prices to stay competitive.
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