Pakistan’s auto market remains in dire straits with soaring prices, and low sales but fifth most populated country saw price lowering trend over the last few months, with big players like Suzuki, Toyota, Honda and Kia cutting rates of some units.
Toyota, Honda, Kia, and Suzuki lowered prices by upto 25 percent. The biggest price cut was announced by Lucky Motors, which slashed price of its KIA Stonic by Rs15lac.
Suzuki then jumped on bandwagon by cutting 13percent price reduction for its Swift GLX CVT variant. In previous months, Toyota Yaris and Honda City prices were reduced.
Other than low sales, several other factors are also linked to price reductions including sales tax.
Big 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 also joined the price reduction trend by lowering the prices of its Yaris variants on March 14, 2024. Despite a reduction of Rs73000-133000, Yaris remains a viable option due to Toyota’s strong resale value and easy access to spare parts.
Honda followed suit by reducing the price of its City by up to 140K PKR on March 15, 2024. However, at a price of around Rs4.8 million , the City’s is expensive.
Toyota Yaris prices go down in Pakistan; check new rate list
