ISLAMABAD: Hybrid vehicle prices in Pakistan have been reduced by hundreds of thousands of rupees following the government’s decision to cut the General Sales Tax (GST) on vehicles from 25% to 18%.
The price reductions by assemblers came nearly two weeks after the GST cut, with several major automakers announcing lower prices for their hybrid models.
Honda Atlas Cars has reduced the price of the Honda HR-V e:HEV from Rs 103.69 million to Rs 92.99 million, representing a reduction of Rs 10.70 million.
The price of the Honda HR-V VTi-S has also been reduced from Rs 7.799 million to Rs 7.299 million.
According to Honda, the revised prices will be available for a limited period and on limited stock. The new prices will apply to all orders invoiced on or after September 25.
Meanwhile, Indus Motor Company has reduced the price of the Toyota Corolla Cross HEV X by Rs 570,000, bringing its price down to Rs 9.729 million.
The price of the Toyota Corolla Cross HEV has also been reduced by Rs 550,000 to Rs 9.299 million.
Syed Asif Ahmed, Director of Sales and Marketing at Chery Master, said the reduction in GST on electric vehicles from 25% to 18% is expected to help revive sales.
According to Ahmed, the higher 25% GST had significantly weakened demand, prompting consumers to delay vehicle purchases while waiting for the government’s decision on taxation.
