Following in the footsteps of Kia Lucky Motors, Peugeot Pakistan, and Pakistan Suzuki, Changan has also reduced the price of its popular crossover SUV, the ‘Oshan X7.’ However, this reduction is only applicable for a limited period, starting from May 4th until June 15th, 2024.
In October 2023, Changan Pakistan had previously lowered the price of its vehicle by Rs. 250,000. It is worth mentioning that this is the fourth price reduction announced within a week, signifying another significant development amidst the ongoing series of price cuts.
The Comfort variant of the Changan Oshan X7 will now be priced at Rs. 7,999,000, down from the previous price of Rs. 8,299,000, resulting in a reduction of Rs. 300,000.
Similarly, the price of the Oshan X7 FutureSense has been decreased by Rs. 400,000, bringing the new price to Rs. 8,549,000 from the previous price of Rs. 8,949,000.
In recent days, there has been a substantial decline in car prices. Kia initiated a reduction of over Rs. 15 lakh for the Stonic, followed by a reduction of Rs. 4.5 lakh for the Peugeot 2008 and a decrease of Rs. 7.1 lakh for the Suzuki Swift. These developments have sparked intrigue.
Significant price cuts like these are rare in Pakistan and occur only occasionally. This prompts the question: What has led car manufacturers to make these adjustments in vehicle prices? To gain a deeper understanding of this emerging trend, noted economist Ali Khizer is available to provide insights.
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The Stonic has seen a 24% drop in price, the Swift has decreased by 13%, the Yaris CVT by 1.3%, and the City CVT by 3%. The new prices now range from Rs. 4.69 million to Rs. 4.77 million, notably down from the pre-revision range of Rs. 4.83 million to Rs. 6.28 million.
This significant adjustment aligns with a strategy to keep prices below Rs. 4 million without including the Goods and Services Tax (GST), which carries a hefty 25% tax rate on cars, according to PakWheels. Kia led the way by slashing the price of the Stonic, aiming for the sub-Rs. 4 million bracket without GST, a move that was echoed by Suzuki with the new pricing of the Swift. Ultimately, companies are navigating to avoid the new GST slab, which inadvertently benefits consumers.
